Legal & General (L&G) has confirmed the sale of its investment platform Cofunds to Aegon led to a £64m impairment loss.
The £140m deal was announced in August last year, with the sale completing in January and making Aegon the UK's biggest platform provider. Nevertheless, the provider booked overall profits of £1.6bn,...
This week's top stories included the Department for Work and Pensions issuing two separate consultations on the pensions dashboard and defined benefit consolidation.
A regime similar to that for defined contribution (DC) master trusts will be set up for regulating defined benefit (DB) consolidators under plans announced today.
Defined benefit (DB) superfunds that wish to enter the market must talk to The Pensions Regulator (TPR) about their plans before opening for business.