Abbey, HSBC, Lloyds TSB and Barclays all feature in the top 10 of worst performing billion pound funds available. This is a telling statistic which should highlight the fact that banks do not always provide the quality service which is often associated with their brand. It is difficult to understand where consumers acquire this false sense of confidence which seems to be attached to banks providing these terrible pension funds.
Perhaps without the brand recognition which these funds have, consumers would have moved their pensions to better performing funds and these banks would not have such a significant proportion of the pension market’s capital investment. Using performance figures as a guide the funds provided by Abbey, HSBC, Lloyds TSB and Barclays would not be considered a secure or lucrative pension scheme in the slightest.
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