Summary
Scottish Equitable pensions customers have so far been paid pound(s)100 million in redress for administrative failings, way above the pound(s)60m ordered by the Financial Services Authority (FSA), writes Simon Bain.
Edinburgh-based Aegon UK revealed the running total yesterday as it reported an 11% drop in earnings to pound(s)8m in the third quarter, when it paid out a further pound(s)5m in redress and ran up another pound(s)7m in costs. That pushed its pensions business to a loss of pound(s)9m, while its life business saw a 22% drop in earnings to pound(s)18m.See the full content of this document
Extract
Aegon Pays Out Pound(S)100m in Pensions Failings Redress
Aegon's fin...
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