‘The big education for me is that civilisation is fragile and can be destroyed in a heartbeat' - Jeremy Brade, former peacekeeper in Sarajevo.

Saturday, October 27, 2018

Scr*w the savers - even harder!

By email yesterday, from National Savings and Investments to financial advisers:

NS&I confirm Index-linked Savings Certificates to move from RPI to CPI

From 1 May 2019, existing holders of Index-linked Savings Certificates who renew into a new term will receive index-linking based on the Consumer Prices Index (CPI) measure of inflation, rather than the Retail Prices Index (RPI). This change recognises the reduced use of RPI by successive governments and is in line with NS&I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.

By indexing new investments to the Consumer Prices Index, savers who hold this product will still have protection from inflation, while at the same time the cost to the taxpayer is forecast to reduce by £610 million over the next five years. 

I have a better idea: why not give us some of those insider investment tips that MPs are sometimes anecdotally reported to get from their colleagues and contacts?

1 comment:

James Higham said...

We are the payers, they are the reapers.