A couple of articles from the weekend press about N&SI (savings certificates and premium bonds)
Hunter Davies Sunday Times 28 Nov 2021
After 60 years, I have finally given up on National Savings
https://www.thetimes.co.uk/article/after-60-years-i-have-finally-given-up-on-national-savings-pxwzb8h32
NS&I cancels prizes over 'forgotten' Premium Bonds; Daily Telepraph 27 Nov 2021
https://www.telegraph.co.uk/personal-banking/savings/nsi-rescinds-premium-bonds-prizes-due-decades-old-technicality/
(Personally, in relation to Hunter Davies and savings certs: if he's binned index-linked savings certifcates, that's up to him. I'm sitting on mine and keeping quiet (latest RPI 6%))
Got a credit card? use our Credit Card & Finance Calculators
Thanks to bruncher,niord,gvonge,Shelford,GrahamPlatt, for Donating to support the site
Weekend press articles (2) on NS&I
-
- Lemon Slice
- Posts: 924
- Joined: October 5th, 2018, 1:40 pm
- Has thanked: 176 times
- Been thanked: 303 times
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
Re: Weekend press articles (2) on NS&I
yorkshirelad1 wrote:A couple of articles from the weekend press about N&SI (savings certificates and premium bonds)
Hunter Davies Sunday Times 28 Nov 2021
After 60 years, I have finally given up on National Savings
https://www.thetimes.co.uk/article/after-60-years-i-have-finally-given-up-on-national-savings-pxwzb8h32
NS&I cancels prizes over 'forgotten' Premium Bonds; Daily Telepraph 27 Nov 2021
https://www.telegraph.co.uk/personal-banking/savings/nsi-rescinds-premium-bonds-prizes-due-decades-old-technicality/
(Personally, in relation to Hunter Davies and savings certs: if he's binned index-linked savings certifcates, that's up to him. I'm sitting on mine and keeping quiet (latest RPI 6%))
I read the article by Hunter Davies as well but saw no comment about index linked savings certificates. I hold a chunk of them as well and I feel that anyone holding them should really keep them as a proxy for cash. As a matter of fact, is it not the case that as they are renewed they are indexed to the lower CPI? Still worth holding of course.
Dod
-
- Lemon Quarter
- Posts: 1021
- Joined: November 7th, 2016, 4:21 pm
- Has thanked: 514 times
- Been thanked: 124 times
Re: Weekend press articles (2) on NS&I
qq is it not the case that as they are renewed they are indexed to the lower CPI? Still worth holding of course. uqq
not quite...
if you do NOTHING then they automatically renew into same length bond but yes at new fake CPI rate not the slightly nearer reallity rate of RPI
you dont have to 'renew' as such
not quite...
if you do NOTHING then they automatically renew into same length bond but yes at new fake CPI rate not the slightly nearer reallity rate of RPI
you dont have to 'renew' as such
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
Re: Weekend press articles (2) on NS&I
mutantpoodle wrote:qq is it not the case that as they are renewed they are indexed to the lower CPI? Still worth holding of course. uqq
not quite...
if you do NOTHING then they automatically renew into same length bond but yes at new fake CPI rate not the slightly nearer reallity rate of RPI
you dont have to 'renew' as such
Well I know that, having held them for over 20 years, but I am not sure what point you are making. Even if I do SOMETHING, I cannot 'renew' them into RPI indexing.
Dod
-
- Lemon Slice
- Posts: 924
- Joined: October 5th, 2018, 1:40 pm
- Has thanked: 176 times
- Been thanked: 303 times
Re: Weekend press articles (2) on NS&I
re "renewing": I believe the position on maturity, if chosen (or default), a savings certificate will *renew* (as in, from the letter, "we will renew your Certificate automatically") on the same terms (length/years and fixed/IL). Re indexation, it's that NS&I ILSCs have changed and use CPI for indexation not RPI (from May 2019)
HD & savings certs: Yes, HD didn't mention index-linked savings certs, he just mentioned savings certs and didn't say whether his were fixed of IL.
Proxy for cash: I'd say they are better than a proxy for cash
HD & savings certs: Yes, HD didn't mention index-linked savings certs, he just mentioned savings certs and didn't say whether his were fixed of IL.
Proxy for cash: I'd say they are better than a proxy for cash
- if you hold ILSC there are very few (none?) cash accounts that currently beat inflation
- a cash account has a limit of the FSCS llimit (£85k?) where there is no limit at NS&I
- and the obvious one of being tax-free
Return to “Bank Accounts Savings & ISAs”
Who is online
Users browsing this forum: No registered users and 4 guests