SOS Save Our Savers

bendix

EdInvestor wrote: »

Maybe SOS should think a bit harder about who needs help in the current climate.

Yeah, maybe.

Or maybe it's organised by a bunch of malcontent pensioners who think the world owes them a living and they should have special rates, just for themselves.

Sceptic001

The campaign seems to have missed the central point made by several posts that the main enemy of savers is INFLATION.

Start a campaign to force the government to rein back its massive deficit more quickly than either of the main parties are currently contemplating and you may find considerably more support!

baby_boomer

redpete wrote: »

Looking at some of the things they stand for I don't think I'll be joining.

Make it easier to save, simplify the rules that make pensions and investments so complex

Take away some of the rules and complexity and you end up with more unfairness.

I don't mind the rules.

What I mind in a low interest rate environment is getting endless copies of rules changes / interest rate changes /banking code garbage through the post which cost more to produce and send than the interest many people are paid! Put it all online, make it available in branch and say that people must opt into getting this bumpf if they really want to destroy the planet & contribute to crap rates.

The silly building societies have made a rod for their own and our backs by making a virtue of this sort endless member communication that usually goes straight from the letter box into the (recycling) bin .

gozomark

Would the supporters of this campaign be happier if savings rates were 6% and inflation 10% ?

Ron2256

bendix wrote: »

You see. You just don't get it do you?

You continue to persist with this myth that you are getting a poor return on your savings.

WRONG. You are getting the best return on your savings in decades. Literally.

Which part of that are you finding hard to understand?

I think you are the one who "just don't get it".
Inflation for mortgage holders has been negative and i expect some lucky bqsterd had an inflation of -10% or even more.
For savers, inflation has been much higher at 4-5% maybe even higher. Simple really but you "just don't get it".

EdInvestor

bendix wrote: »

Or maybe it's organised by a bunch of malcontent pensioners who think the world owes them a living and they should have special rates, just for themselves.

Seems to have quite close links to the Tories.

gozomark

CPI, which excludes mortgage payments has not been running at 4-5%, never mind higher.

StevieJ

Robert_Kent wrote: »

I just see the new savers campaign started yesterday. May be of interest to posters here. I am unable to post a link here but a simple search of the campaign name will identify.

I for one have registered as are many of my friends. You may wish to do so.

It would be great if Martin Lewis and other members of the media were also to support - the underlying problem of artificially low interest rates is perhaps of the same level of importance as the unfair bank charges issue that was well supported.

I would like the powers that be to do what they preceive to be best for the economy before they sort out the interest rate on your savings account

StevieJ

jon3001 wrote: »

Yeah - it was quite annoying last year to keep reading the howls of pensioners who were happy getting 6.5% on their savings when RPI was at 5% but didn't like getting 2% on their savings when RPI was at 0%.

Not to mention a state pension pay rise of 7.62% well above inflation for 2009-2010 :beer:

Old_Slaphead

StevieJ wrote: »

Not to mention a state pension pay rise of 7.62% well above inflation for 2009-2010 :beer:

I'm not a pensioner (therefore don't have a vested interest in this question) but where do you get 7.62% from. The increase 2009/10 was from £95.25 to £97.65 that's errrr 2.5%