Pension savers' nest eggs were shunted into investments with poor records by Scottish Widows behind closed doors

Vast numbers of savers with pensions run by Scottish Widows have had their money secretly moved into dud investments, The Telegraph can disclose. Data seen by reporters indicated that an astonishing £2.2bn had poured into three of the insurer's biggest funds this year – despite these investments showing terrible records for growing savers' cash. Had they been on general sale, the funds would have ranked among the most popular in Britain since November 2012. In fact, the money flowing into the funds belonged to existing Scottish Widows savers, whose pension pots were tinkered with behind closed doors. A large portion of those affected were members of a workplace pension run by the insurer, which is part of Lloyds Banking Group.....Read more here