NS&I - Index-linked calculator screwed up again

Biggles

Just like last month, NS&I have changed the date of the RPI announcement (again, to the wrong date) but failed to change any of the data.

It took them two or three days to correct the data last month, and two or three weeks to correct the announcement date.

I hope they calculate my returns more competently when I cash in!

Consumerist

Sorry, I don't quite follow what you are saying.

The Office for National Statistics publishes the RPI data and I'm not clear as to what difference it makes that the publication date chages each month.

Could you clarify ?
.

Biggles

As per the subject header, I'm referring to the NS&I online calculator (http://www.nsandi.com/products/ilsc/calculator), not to the original ONS data.

alanq

The RPI figures used are those from the ONS issued the preceding calendar month. I don't understand why the date of the announcement is supposed to be significant. Please clarify.

Consumerist

Biggles wrote: »

. . . I'm referring to the NS&I online calculator

OK, I'm with you now.

I use a spreadsheet and punch in the index when it's announced so don't have to rely on the NS&I calculator. This might be a solution for you too.

Biggles

alanq wrote: »

The RPI figures used are those from the ONS issued the preceding calendar month. I don't understand why the date of the announcement is supposed to be significant. Please clarify.

No, the RPI figures used are supposed to be those issued by the ONS this month (20 Apr). However, the calculator is still using those issued 23 Mar. This happened last month.

The actual date isn't relevant, it just happens to not be the correct date, which again is what happened last month.

Consumerist wrote: »

I use a spreadsheet and punch in the index when it's announced so don't have to rely on the NS&I calculator. This might be a solution for you too.

I have found the NS&I calculator to be reliable until last month but may have to do as you suggest if this continues.

alanq

"15. ...For the purposes of these terms and conditions, the Index figure applicable to any calendar month will be the Index figure issued in the immediately preceding calendar month." so until the end of April the RPI figure that matters is the one for March and the calculator is correct.
http://www.nsandi.com/products/ilsc/tandc

artha

alanq wrote: »

"15. ...For the purposes of these terms and conditions, the Index figure applicable to any calendar month will be the Index figure issued in the immediately preceding calendar month." so until the end of April the RPI figure that matters is the one for March and the calculator is correct.
http://www.nsandi.com/products/ilsc/tandc

Don't know whether it helps but on Tuesday this week I used the calculator for my 5K Cert taken out 31st May 2007. Predicted value £5601

Yesterday value = 5601
Today value =5646

Biggles

Interestingly, the spreadsheet calculator is giving figures £120 (for a £15k certificate) higher than the online calculator, so has presumably been updated (it also shows the correct date of 20 Apr).

NS&I have replied to my email, apologising for the problem, but no fix seems to be in place yet.

martinman3

The online calculator now shows a date of 22nd April and requires Adobe Flash again. :wall:

Edit: It really is screwed up this time, calculator is not displayed even if Flash is enabled in IE7 and is working with other Flash content.
No its my PC.

jem16

martinman3 wrote: »

Edit: It really is screwed up this time, calculator is not displayed even if Flash is enabled in IE7 and is working with other Flash content.

Works fine for me using IE7.