Savings provision.


Helping customers save for their retirement or an important event

Our purpose is to provide investment and savings products, which help people plan for the future and for retirement. We offer a number of ways for our customers to do this with a large range of products and funds to invest in depending upon their needs and approach to risk. Each customer’s circumstances are different in terms of how they were advised, what they are saving for and the risks they are prepared to take with their money. The table below shows how well our customers regard us as a safe place to invest their money and also their level of satisfaction with our savings products.

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2008

2009

2010

2011

2012

Assets under administration value for customers whose (non-pension) savings we are responsible for (£m)

25,984

31,073

38,321

39,199

40,976

Assets under administration value for customers whose pension savings we are responsible for (£m)

19,78

23,713

25,736

25,716

29,205

Percentage of customers who are not happy with their savings product and have complained to us

n/a

n/a

n/a

0.29%

0.30%

What trends are we seeing with our customers?

For customers saving for their pensions Assets under administration have increased above FTSE 100 growth rate in 2012, and we continue to help over one million pension customers save towards their retirement.
Overall we continue to help around 2.7million UK customers save for their pensions or for their futures with our financial products. Over 400,000 of these are saving online through our Investor Portfolio Service.

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