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National Savings Certificates to be CPI Linked
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- Lemon Quarter
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National Savings Certificates to be CPI Linked
From may next year, reinvested maturing index linked National Savings Certificates will be linked to CPI rather than RPI inflation:
https://www.lovemoney.com/news/78649/in ... nvestments
Drat. Nonetheless, that is currently still better than index linked gilts, perhaps we might see some new issues at long last.
https://www.lovemoney.com/news/78649/in ... nvestments
Drat. Nonetheless, that is currently still better than index linked gilts, perhaps we might see some new issues at long last.
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
GeoffF100 wrote:From may next year, reinvested maturing index linked National Savings Certificates will be linked to CPI rather than RPI inflation:
https://www.lovemoney.com/news/78649/in ... nvestments
Drat. Nonetheless, that is currently still better than index linked gilts, perhaps we might see some new issues at long last.
Here's the info from NS&I
https://nsandi-corporate.com/news-research/news/nsi-confirm-index-linked-savings-certificates-move-rpi-cpi
also, holdings in NS&I are guaranteed separately from the FSCS limit for bank accounts....
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
A disgraceful move while gilt linkers are committed to RPI for the next 60 years.
But even so please open up the market again. The government has crucified pensioners for 10 years now. For Gods sake let them earn an index linked return - even if it’s the wrong inflation rate. Let’s stop subsidising snowflakes on 2% mortgages.
But even so please open up the market again. The government has crucified pensioners for 10 years now. For Gods sake let them earn an index linked return - even if it’s the wrong inflation rate. Let’s stop subsidising snowflakes on 2% mortgages.
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
Just had the "one month's notice" of a maturing 3-year certificate. It gives me the option of rolling over to another 3-years of RPI+0.01% or 5 years on the same terms. Given the CPI switch, I'm locking in for the longer term.
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- Lemon Quarter
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Re: National Savings Certificates to be CPI Linked
rolling over for different (extended) term
but have you tried to do it ON LINE??
I spent an hour yesterday doing this and getting nowhere
just message saying 'error please ring us'
when I rang....very kind and tried to help.....but no progress
system fault!!!
I will give them a week and then reluctantly have to do it on paper
which as we all know is far more work, takes a lot longer
and creates work for them as well!!
government bodies/public sector again!! there will be no one held to account!
but have you tried to do it ON LINE??
I spent an hour yesterday doing this and getting nowhere
just message saying 'error please ring us'
when I rang....very kind and tried to help.....but no progress
system fault!!!
I will give them a week and then reluctantly have to do it on paper
which as we all know is far more work, takes a lot longer
and creates work for them as well!!
government bodies/public sector again!! there will be no one held to account!
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- The full Lemon
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Re: National Savings Certificates to be CPI Linked
mutantpoodle wrote:but have you tried to do it ON LINE??
I spent an hour yesterday doing this and getting nowhere
just message saying 'error please ring us'
when I rang....very kind and tried to help.....but no progress
system fault!!!
government bodies/public sector again!! there will be no one held to account!
But do we know which (private sector?) organisation is behind their IT system?
Um...
https://atos.net/en/2013/press-release/ ... 3_05_21_01
Possibly start a Brexit debate now!
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- Lemon Quarter
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Re: National Savings Certificates to be CPI Linked
noted re ATOS being the private company
however its NS and I who appointed them and they should not accept rubbish service
its NS and I who 'we' the customer is using and its NSand I who 'we' are not getting service from
NSandI should be insiting on proper service from ATOS and if they dont get it, they should LOUDLY be withdrawing their
undoubtedly overpaid patrionage
meanwhile customers not getting attention
and someone at NSand I should be getting on the case!..not just blaming others
however its NS and I who appointed them and they should not accept rubbish service
its NS and I who 'we' the customer is using and its NSand I who 'we' are not getting service from
NSandI should be insiting on proper service from ATOS and if they dont get it, they should LOUDLY be withdrawing their
undoubtedly overpaid patrionage
meanwhile customers not getting attention
and someone at NSand I should be getting on the case!..not just blaming others
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
mutantpoodle wrote:noted re ATOS being the private company
however its NS and I who appointed them and they should not accept rubbish service
its NS and I who 'we' the customer is using and its NSand I who 'we' are not getting service from
NSandI should be insiting on proper service from ATOS and if they dont get it, they should LOUDLY be withdrawing their
undoubtedly overpaid patrionage
meanwhile customers not getting attention
and someone at NSand I should be getting on the case!..not just blaming others
It would be nice to see someone from NS&I hauled in front of the Treasury Select committee (like other banks were for the terrible serice) but I can't see that happening.... NS&I is a government dept/agency, and should be squeakier than squeaky clean than the rest of them. If the Treasury Select committee chastises other banks for poor service, it should certainly get its own house in order.
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- Lemon Quarter
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Re: National Savings Certificates to be CPI Linked
progress...……..of a sort
it appears that despite being told it was a system fault last time and earlier today
it now appears that 'my' account was randomly selected for security check
though why no one could actually tell me this is left unsaid
I am now told all is ok and will be working 'soon'
stay tuned!!
it appears that despite being told it was a system fault last time and earlier today
it now appears that 'my' account was randomly selected for security check
though why no one could actually tell me this is left unsaid
I am now told all is ok and will be working 'soon'
stay tuned!!
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
DrBunsenHoneydew wrote:Just had the "one month's notice" of a maturing 3-year certificate. It gives me the option of rolling over to another 3-years of RPI+0.01% or 5 years on the same terms. Given the CPI switch, I'm locking in for the longer term.
Seems like to Torygraph Money (Sat 10 Nov 2018) have nicked your idea
https://www.telegraph.co.uk/personal-ba ... -nsi-cuts/
(paywall/register)
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
yorkshirelad1 wrote:DrBunsenHoneydew wrote:Just had the "one month's notice" of a maturing 3-year certificate. It gives me the option of rolling over to another 3-years of RPI+0.01% or 5 years on the same terms. Given the CPI switch, I'm locking in for the longer term.
Seems like to Torygraph Money (Sat 10 Nov 2018) have nicked your idea
https://www.telegraph.co.uk/personal-ba ... -nsi-cuts/
(paywall/register)
Nice one!
One thought I had in retrospect was that they might - just possibly - offer after next May CPI + more than 0.01%, in place of the current RPI+0.01%, reducing the hit. We shall see.
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- Lemon Slice
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Re: National Savings Certificates to be CPI Linked
DrBunsenHoneydew wrote:yorkshirelad1 wrote:DrBunsenHoneydew wrote:.
Nice one!
One thought I had in retrospect was that they might - just possibly - offer after next May CPI + more than 0.01%, in place of the current RPI+0.01%, reducing the hit. We shall see.
Doubt it. The impression I get is they don't want to do anything for index-linked savings certificates, and 0.01% is the lowest possible rate than can offer on top of RPI (until they start offering 0.001%).
Sadly, index-linked Savings certificates have fallen out of favour with NS&I and their overlords (obviously the product is too good, or not "sexy" enough, or not with the "social meeja" crowd), new index-linked certificates haven't been on sale for a while, and they haven't done much with the product itself for a while either. I sense that they grudgingly let existing holders of maturing certificates roll over into new certificates.....
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- Lemon Quarter
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Re: National Savings Certificates to be CPI Linked
yorkshirelad1 wrote:Sadly, index-linked Savings certificates have fallen out of favour with NS&I and their overlords (obviously the product is too good, or not "sexy" enough, or not with the "social meeja" crowd), new index-linked certificates haven't been on sale for a while, and they haven't done much with the product itself for a while either.
The government can borrow more cheaply elsewhere. Long gilts currently selling for 1.5% (vs 2.5% cpi). So it is easy to see why they are not interested in pushing this product for the benefit of savers.
Gryff
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