I have a 3-year one maturing later this month, and a 5-year one maturing somewhat after the RPI to CPI change (grrr) on May 1. My plan is to renew the 3-year one for 5 years to capture two more years of RPI rather than CPI, and renew the 5-year one for 3 years so as to effectively swap them around. I can definitely roll the 3-year into a 5-year one, but can I definitely also roll the 5-year into a 3-year one?
NS&I themselves were a touch vague on this point when asked. They did say that the rules can change -- indeed, and they do, regularly (and more often than not to the government's benefit and the investor's detriment) -- but didn't seem particularly sure about what they are even now. Probably something to do with the fact that Index Linked certificates haven't been sold by NS&I for close to a decade.
Anyway, I'm looking for some firsthand and, hopefully, also relatively recent experience. Thanks.
Moved to this board to get it on-topic. - Chris