Pensioner Bonds

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Primrose
Primrose Posts: 10,621 Forumite
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in Savings & investments
Just received a communication from NS&I saying we will receive written reinvestment options when the time comes but queries can't be answered by phone in the meantime.


Has anybody seen any news about what reinvestment options are likely to be, if indeed the bonds will be capable of being rolled over and continued in their present form? I can't imagine that interest rates would be as favourable as the current ones.
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  • joe134
    joe134 Posts: 3,336 Forumite
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    Primrose wrote: »
    Just received a communication from NS&I saying we will receive written reinvestment options when the time comes but queries can't be answered by phone in the meantime.


    Has anybody seen any news about what reinvestment options are likely to be, if indeed the bonds will be capable of being rolled over and continued in their present form? I can't imagine that interest rates would be as favourable as the current ones.
    Doesn't seem two minutes since I took them out.
    I cannot see the new rates being anywhere near the old rate.
    Awaiting my letter.Then there's the tax to be reclaimed on it, if non taxpayer at year end requiring a.R40
  • Pincher
    Pincher Posts: 6,552 Forumite
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    You have the whole NS&I range to re-invest in, and no election to bribe you for. I would just take the money and hope you live long enough or the next bribe.

    All that mad rush to get it last year, for fear of missing out.

    If we had waited a bit, would the interest be paid after 6th April 2016, so it's tax free?

    It was withdrawn in May, just after the election (bribe for), so could have started it in the 2015/16 tax year.
  • Primrose
    Primrose Posts: 10,621 Forumite
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    I have already sent my tax return for the 2014/15 tax year to HMRC so any interest won't be included in that. Will have to make a separate declaration or roll it over i to the next yax year. As I bought both the one and three year bonds I assume all the interest on the 3 year bond will be paid on maturity. I can't remember what the initial paperwork said.
  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
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    It's paid yearly and you can see the amount online.

    Next year 25/16, you can earn £1,000 of interest tax free, this year £5,000 tax free for those earning less than the tax allowance, so probably no tax to pay anyway.

    fj
  • NS&I
    NS&I Posts: 3 Organisation Representative
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    Primrose wrote: »
    Just received a communication from NS&I saying we will receive written reinvestment options when the time comes but queries can't be answered by phone in the meantime.


    Has anybody seen any news about what reinvestment options are likely to be, if indeed the bonds will be capable of being rolled over and continued in their present form? I can't imagine that interest rates would be as favourable as the current ones.


    Hi Primrose,

    Your letter is to let you know about changes to how you can give us your instructions when your 1-year 65+ Guaranteed Growth Bond matures. Due to the unprecedented number of customers who will be making their decisions at the same time, we have decided that we can provide the best service for giving maturity instructions, online and by post. However, customers will still be able to use our 24-hour call centre in order to make enquiries about their 65+ Guaranteed Growth Bonds or any other NS&I products they may hold.
    Official Company Representative
    I am the official company representative of NS&I. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE
  • frugalmacdugal
    frugalmacdugal Posts: 10,077 Forumite
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    edited 25 November 2015 at 7:28AM
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    Hi,

    Beware!!!!

    Got a scam email supposedly from NS&I yesterday,

    'Important information about your 1 year 65+ Guaranteed Growth Bond'.

    I didn't click on it, but signed in to my NS&I account, but no recent message there.

    I hovered over the message heading and the from address was,

    'National Savings and Investments [EMAIL="outoing@email.nsandi.com"]outoing@email.nsandi.com.'[/EMAIL]

    So, be aware, the scammers will know a lot of folks will be curious about what will happen when I year Bond matures.
  • Primrose
    Primrose Posts: 10,621 Forumite
    Name Dropper First Post First Anniversary I've been Money Tipped!
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    Thank you very much for publishing this. I know a number of people who have purchased these bonds so will share with them..
  • NS&I
    NS&I Posts: 3 Organisation Representative
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    frugalmacdugal wrote: »
    Hi,

    Beware!!!!

    Got a scam email supposedly from NS&I yesterday,

    'Important information about your 1 year 65+ Guaranteed Growth Bond'.

    I didn't click on it, but signed in to my NS&I account, but no recent message there.

    I hovered over the message heading and the from address was,

    'National Savings and Investments [EMAIL="outoing@email.nsandi.com"]outoing@email.nsandi.com.'[/EMAIL]

    So, be aware, the scammers will know a lot of folks will be curious about what will happen when I year Bond matures.

    Hi there,

    Thank you for making us aware of this. Would it be possible for you to send that email to [EMAIL="mediateam@nsandi.com"]mediateam@nsandi.com[/EMAIL] so we look into this for you?

    Thanks.
    Official Company Representative
    I am the official company representative of NS&I. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE
  • Primrose
    Primrose Posts: 10,621 Forumite
    Name Dropper First Post First Anniversary I've been Money Tipped!
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    NS&I. It is encouraging that you would like to investigate this.

    I receive many similar scam emails alleging to come from banks every week yet when I try forward them onto the individual bank's Fraud Departments for investigation they either refuse to leave my Outbox because of my device's anti virus protection or the banks never acknowledge receipt of them so you never know whether the criminals have been investigated and shut down. I suppose there are just too many of them. NatWest is the only bank who ever provides any acknowledgement that a scam email has been received.
  • frugalmacdugal
    frugalmacdugal Posts: 10,077 Forumite
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    Hi,
    NS&I wrote: »
    Hi there,

    Thank you for making us aware of this. Would it be possible for you to send that email to [EMAIL="mediateam@nsandi.com"]mediateam@nsandi.com[/EMAIL] so we look into this for you?

    Thanks.

    sorry for the delay.

    Sent a copy as requested.
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