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ILSC Replacement

Discussing offers, rates and deals on suppliers
CliffEdge
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ILSC Replacement

#508637

Postby CliffEdge » June 21st, 2022, 12:01 pm

How will the crooks screw us over?

I think they'll invent some new tax free certificate paying 2% (clearly justifiable as it's the long term CPI target) tax free only available to ILSC expirations.

mc2fool
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Re: ILSC Replacement

#508652

Postby mc2fool » June 21st, 2022, 12:38 pm

Replacement? Sorry, is there some announcement about index linked certs that I've missed that sets the context of your post? Link please! ;)

Kantwebefriends
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Re: ILSC Replacement

#508685

Postby Kantwebefriends » June 21st, 2022, 4:23 pm

I will be browned off when a government stops us rolling them over but it's bound to happen one day. Our jolly nice returns on ILSCs are paid to us by our fellow taxpayers, some of whom will be poorer than us.

It's just silly nonsense to talk about " screw us over" though: the promised return lasts for only three or five years and that is that. Have you invented a fantasy right to roll them over for ever?

CliffEdge
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Re: ILSC Replacement

#508701

Postby CliffEdge » June 21st, 2022, 6:11 pm

Kantwebefriends wrote:I will be browned off when a government stops us rolling them over but it's bound to happen one day. Our jolly nice returns on ILSCs are paid to us by our fellow taxpayers, some of whom will be poorer than us.

It's just silly nonsense to talk about " screw us over" though: the promised return lasts for only three or five years and that is that. Have you invented a fantasy right to roll them over for ever?

Yes, they do it right in the USA
(Jolly nice return, keeping up with CPI you mean)

Kantwebefriends
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Re: ILSC Replacement

#508764

Postby Kantwebefriends » June 22nd, 2022, 1:36 am

(Jolly nice return, keeping up with CPI you mean)


Make up your ruddy mind. Are you moaning that their return is dismal (i.e. that they are bad) or whinging that you can't roll them over for ever (i.e. that they are good)?

CliffEdge
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Re: ILSC Replacement

#508788

Postby CliffEdge » June 22nd, 2022, 9:25 am

Kantwebefriends wrote:
(Jolly nice return, keeping up with CPI you mean)


Make up your ruddy mind. Are you moaning that their return is dismal (i.e. that they are bad) or whinging that you can't roll them over for ever (i.e. that they are good)?

No, there is no excess return, which is fair enough, so I'm happy with them, though the change from RPI to CPI was unjustifiable on fairness grounds as eg student loan interest etc is still charged based on RPI
Yes, I will certainly not be happy if they can no longer be rolled over and will definitely feel cheated by this smucbag government whose personnel have basically destroyed and are destroying the UK and the lives of myself and my descendants

Dod101
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Re: ILSC Replacement

#508792

Postby Dod101 » June 22nd, 2022, 10:11 am

CliffEdge wrote:
Kantwebefriends wrote:
(Jolly nice return, keeping up with CPI you mean)


Make up your ruddy mind. Are you moaning that their return is dismal (i.e. that they are bad) or whinging that you can't roll them over for ever (i.e. that they are good)?

No, there is no excess return, which is fair enough, so I'm happy with them, though the change from RPI to CPI was unjustifiable on fairness grounds as eg student loan interest etc is still charged based on RPI
Yes, I will certainly not be happy if they can no longer be rolled over and will definitely feel cheated by this smucbag government whose personnel have basically destroyed and are destroying the UK and the lives of myself and my descendants


Is there a point that CiffEdge is trying to make or is this just a general moan?

Dod

Kantwebefriends
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Re: ILSC Replacement

#508870

Postby Kantwebefriends » June 22nd, 2022, 4:04 pm

Is there a point that CiffEdge is trying to make or is this just a general moan?

Dod


I think it's Prince Harry in disguise.

CliffEdge
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Re: ILSC Replacement

#508893

Postby CliffEdge » June 22nd, 2022, 6:29 pm

Kantwebefriends wrote:
Is there a point that CiffEdge is trying to make or is this just a general moan?

Dod


I think it's Prince Harry in disguise.

Know your place. Speak when you're spoken to.

yorkshirelad1
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Re: ILSC Replacement

#509228

Postby yorkshirelad1 » June 24th, 2022, 12:11 pm

  • IMHO, proclaiming too loudly the benefits of a good investment (depending on one's needs) on a public forum and make obvious the advantages might not be the best course of actions when someone in authority might not be aware of them and rapidly remove them
  • Secondly, if NS&I were to stop automatic rollover of ILSCs, they might find they would have to find quite a lot of money to cover redemptions. According to the NS&I annual report (https://nsandi-corporate.com/performance/annual-reports), there is quite a lot held in savings certificates, and I wonder if a government would quietly let certificates roll over (currently paying CPI+0.01%) rather than find the cash to pay out, and kick the problem down the road. A note on page 21 of the 2020–21 report says "Certificates (Savings Certificates) are used by many holders as long-term savings products. The majority of customers choose to renew their holdings at the end of their term"


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