Standard Life's profit up 12 pct on UK pensions auto-enrolment boost

LONDON - British insurance and pensions group Standard Life Plc reported a 12 per cent rise in first-half operating profit as more UK workers were automatically enrolled onto company pension schemes.


Standard Life said it expected to add over 300,000 new auto-enrolled customers in 2014. Operating profit increased to 339 million pounds ($571.7 million) in the six months ended June 30 from 304 million pounds a year earlier.


Assets under administration rose 4 per cent to 254.1 billion pounds, while the company's fund management arm Standard Life Investments posted a 5 per cent increase in third party assets to 108 billion pounds.

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Aaj Kal