NS&I Index Linked Certs closed for new applications

StevieJ

It seems that the only input house prices have into RPI is to provide a basis for calculating depreciation i.e. depreciation of 1.4% of the smoothed housing index, have I got that right?

Newly_retired

I was waiting for my regular saver to mature next week then buy into NS&I ILCs. I have also some maturing in Sept. Just where do we savers put our money these days to beat inflation?

StevieJ

Newly_retired wrote: »

I was waiting for my regular saver to mature next week then buy into NS&I ILCs. I have also some maturing in Sept. Just where do we savers put our money these days to beat inflation?

I guess the stock market is one place with companies like Shell paying 5%+ dividend yields.

ghostbusters

Are index linked gilts are viable alternative?
I thinking of looking at them as I had reached the maximum in the NS&I index linked certificates.
Any advice would be appreciated

schiff

I've found it weird that this is referred to in the MSE article as a Savings Account. Isn't it, or wasn't it, Index Linked National Savings Certificates?

amcluesent

Confirms what i've been saying that the Condems are looking for a soft default, keeping inflation 2 to 3 percent above the base rate for years, hence the quick decision to move index linked outgoing such as pensions etc.onto the CPI and now pulling RPI linked savings.

Now I expect we'll see a draconian crack down on private purchase and ownership of gold, that being the last resort for citizens holding a fiat currency

lisyloo

the Condems are looking for a soft default

Can you explain what you mean by that term?
Do you mean they will try to inflate away debts?

Gorgeous_George

Clearly the products were too popular with the normal people. The Condems wouldn't like that.

Maybe they'll reintroduce them with a minimum deposit of £1million so that their friends can benefit still.

Glad I got in early. I guess its a sign that the Condems have decided to allow inflation to run riot. How high will it go? Double digits anyone?

GG

sabretoothtigger

They can get the money cheaper elsewhere is probably the main reason

bigfreddiel

alanq wrote: »

"On maturity, existing Savings Certificate customers can continue to rollover their investment into the same Issue they currently hold. They can also reinvest into any of the Savings Certificate terms and Issues – either the 3 or 5 year Issue of Index-linked Savings Certificates or the 2 or 5 year Issue of Fixed Interest Savings Certificates – regardless of which Savings Certificate they currently hold.

However, as Savings Certificates have been withdrawn from general sale, customers who have invested in other NS&I products will not be able to reinvest their money into Savings Certificates."
http://www.nsandi.com/press-room/press-releases/pr201018

I'm not entirely sure I understand the above (lifted from NS&I site) can I re-invest my ILSC that matures in a few weeks time?

Paragraph 1 says I can - paragraph 2 says I cannot as there will be no product to reinvest into! Which is exactly what i thought when I checked the NS&I product lists.

So which is it?

cheers

fj