1 Year pensioner bond rate plummets

[Michael Browne]

Hundreds of thousands of over-65s who invested in National Savings & Investments pensioner bonds will see their savings rate plummet from Jan 15th.

 

The rate on the one-year 65+ Guaranteed Growth Bonds will fall from a market-leading 2.8% AER to 1.45% AER.

 

NS&I is writing to around 470,000 bond holders, giving them 30 days’ notice to consider their options.

 

Due to the volume of customers making their decisions at the same time, NS&I will only take maturity instructions online or by post, not over the telephone.

 

The first bonds are due to mature from Jan 15th. If you do nothing, you'll be automatically reinvested for another year into a standard Guaranteed Growth Bond paying 1.45% AER.

 

You have 30 days after the bond matures to move your money elsewhere, otherwise you face a 90-day interest penalty if you want to access your funds.

 

Read the full story.... HERE

Edited January 27, 2016 by citizenB

[maroondevo52]

Just as well I don't have any.

[Old Cogger]

another fraud interest rates ahhhhhhhhhhhh

[welshmike71]

I only received the CAG email today. I must say that the paragraph stating "1 Year pensioner bond rate plummets" appears to be unnecessarily alarmist. Surely pensioners will get the promised interest rate on their maturing bond if they cash it in but if they reinvest it then the much lower interest rate will be applied. Sorry CAG you have lost my confidence in your reporting.

[citizenB]

I only received the CAG email today. I must say that the paragraph stating "1 Year pensioner bond rate plummets" appears to be unnecessarily alarmist. Surely pensioners will get the promised interest rate on their maturing bond if they cash it in but if they reinvest it then the much lower interest rate will be applied. Sorry CAG you have lost my confidence in your reporting.

 

Is that not what was said... in both the first post and in our Newsletter ?

[Andyorch]

I only received the CAG email today. I must say that the paragraph stating "1 Year pensioner bond rate plummets" appears to be unnecessarily alarmist. Surely pensioners will get the promised interest rate on their maturing bond if they cash it in but if they reinvest it then the much lower interest rate will be applied. Sorry CAG you have lost my confidence in your reporting.

 

 

http://www.thisismoney.co.uk/money/pensions/article-2968839/Over-65s-pile-pensioner-bonds-big-loss-banks-6-3bn-moved-accounts-month.html

 

Regards

 

Andy

[citizenB]

I have added a link to the first post as well.

[welshmike71]

 

Regards

 

Andy

 

Hmm.

That link states Published: 21:59, 25 February 2015 | Updated: 21:59, 25 February 2015.

So I can't see that it is relevant today.

[Andyorch]

Hmm.

That link states Published: 21:59, 25 February 2015 | Updated: 21:59, 25 February 2015.

So I can't see that it is relevant today.

 

Well the fist link in post 1 is Jan 2016

[welshmike71]

OK the detail is as you wrote but the headline in the email

"

1 Year pensioner bond rate plummets

 

" looks like a typical attention grabber.

[Andyorch]

Well it attracted yours mike:-)

[citizenB]

OK the detail is as you wrote but the headline in the email

"

1 Year pensioner bond rate plummets

 

" looks like a typical attention grabber.

 

Sadly, that is how the media works When I first started co-editing the Newsletter, I didn't believe what I was being told about "Headlines" However, it has been proved to be correct as the bland titles just did not attract readers.

 

I would be very sad to lose you as a supporter of the Newsletter as I notice from my records that you do open and read the links quite regularly and your support is very much appreciated.

[welshmike71]

I was just being pedantic sorry but do appreciate the emails and forum and will continue to support the group.

[citizenB]

I was just being pedantic sorry but do appreciate the emails and forum and will continue to support the group.

 

 

No problem, we welcome feedback and I am pleased that you will continue to support us