Non-motoring > Another blow for savers Miscellaneous
Thread Author: CGNorwich Replies: 7
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New Mon 19 Jul 10 21:10 
 Another blow for savers - CGNorwich

NS & I has pulled its inflation linked bonds now making it impossible to find savings product that will keep pace with inflation.
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New Mon 19 Jul 10 21:28 
 Another blow for savers - Zero
damn My money came through this week as well.
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New Mon 19 Jul 10 21:42 
 Another blow for savers - Tooslow
:-(

I have a 1 year bond maturing in a couple of weeks. Guess I'll just have to spend it :-)

JH
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New Mon 19 Jul 10 23:33 
 Another blow for savers - Stuartli
Even if the savings interest matches inflation, the capital will lose value...:-(

Only answer is to buy whatever you want right now and be relieved at the money you actually save in the short to medium term.
Last edited by: Stuartli on Mon 19 Jul 10 at 23:34
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New Mon 19 Jul 10 23:54 
 Another blow for savers - Zero
No, the NS&I bonds were RPI inflation PLUS 1% so do not loose value.

There will probably be another issue in a while. I understand the banks were upset they were draining saving funds.
Last edited by: Zero on Mon 19 Jul 10 at 23:55
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New Tue 20 Jul 10 08:00 
 Another blow for savers - L'escargot
>> NS & I has pulled its inflation linked bonds ..........

I've no doubt they had a good reason for doing so. All savings schemes have to be financially viable to be able to survive.
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New Tue 20 Jul 10 08:43 
 Another blow for savers - CGNorwich
>> >> NS & I has pulled its inflation linked bonds ..........

>> I've no doubt they had a good reason for doing so.

No doubt - as pointed out the banks don't want any competition to the pitiful rates of exchange they are offering. As usual the interests of those who saved and lived within their means are sacrificed to protect the imprudent.
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New Tue 20 Jul 10 10:01 
 Another blow for savers - Zero
It was a way for the gov to borrow money from the peasants through the back door, bout 5 billion or so. HM gov is cutting borrowing.
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