Aegon UK made a loss before tax of £22m in the fourth quarter of 2011, dragged down by further redress payments following administrative problems at Scottish Equitable and a slump in life and pensions sales.
The company made £52m in redress payments and also incurred an extra £19m in costs related to the programme. It said further payments in the programme "are not expected to recur in 2012". Aegon UK's...
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.