savers

Best savings accounts for savers hit by NS&I rate cuts

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Up to 25million savers with National Savings and Investments are likely to see the interest paid on their money plummet today, if they haven’t already shifted it elsewhere.  The Treasury-backed bank is hitting savers hard to seemingly try and force them out the door after they deposited £38.3billion into it between April and September, shattering its … Read more

Savers struggle to hire financial advisers to cash in their pensions

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All Don Forsyth wants to do is unlock the money tied up in an old pension he had forgotten about. But because the pension comes with valuable guarantees and is worth more than £30,000, he needs to pay a financial adviser to sign it off. Yet the trouble is, the 61-year-old cannot find one willing … Read more

NS&I’s prize mess! Phone lines in meltdown as savers are forced online

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NS&I is today accused of turning its back on millions of older savers as it forces them online while its customer service operation falls apart. National Savings and Investments (NS&I) wants more customers to use its website, and will soon stop sending Premium Bond prizes in the post after more than 60 years. However, the … Read more

Blow for loyal savers as plan for minimum interest rates is scrapped by banking regulator 

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Blow for loyal savers as plan for minimum interest rates is scrapped by banking regulator Plans to protect loyal savers with a minimum interest rate have been shelved FCA announced earlier this year that it planned to shake up the savings market   Move would have required every bank and building society to pay a blanket … Read more

Well-off middle aged savers pile cash into Sipps during Covid crisis

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Well off middle-aged savers pile cash into personal pensions during coronavirus crisis, but old and young put in about the same or less Average value of contributions into Sipps by 30 to 39-year olds rose by 34.7% Among 40 to 49-year olds, the increase was 18.3% Interactive Investor’s research was based on its own Sipp … Read more

Could NS&I further squeeze savers and cut Premium Bonds again?

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National Savings & Investments delivered a crushing blow to savers last month when it announced deep cuts to a number of accounts, which will bite later in November.  Some savers are set to go from earning a market-leading rate of 1.15 per cent interest each month to just 0.01 per cent, while holders of Britain’s … Read more

Savers plough cash into stocks and shares ISAs 

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Savers shun rock-bottom savings rates and plough cash into stocks and shares ISAs By Lucy White For The Daily Mail Published: 22:10 BST, 20 October 2020 | Updated: 22:30 BST, 20 October 2020 Business is booming for investment platforms as savers who stored up extra cash over lockdown flocked to the markets to put it … Read more

Rates are changing so fast, offline savers can’t keep up

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Rates are changing so fast, offline savers can’t keep up: Top deals only available for days before being slashed By Sylvia Morris For The Daily Mail Published: 22:01 BST, 6 October 2020 | Updated: 22:01 BST, 6 October 2020 Older savers are missing out on hundreds of pounds in interest because they are not going … Read more