N&S 5 year index liked savings

MarcoM

Hi,

I have some 5 year index linked certificates with national savings which I opened last summer. I was wondering if I whould receive a yearly statement on these and if so when are the statements sent.

thanks

missile

You can check the value online whenever you like.

buffman

Once you have received your investment certificate, you are unlikely to hear again from NS & I until just before the bond's maturity.

SallyG

I've lost the plot a bit on these after getting some last year - should they still be left to simmer for the full five years - what circumstances should trigger cashing them?

Ifts

Here is the link to the NS&I Index-linked Savings Certificates - Interest Calculator:

http://www.nsandi.com/savings-index-linked-savings-certificates

Also discussed in this thread: https://forums.moneysavingexpert.com/discussion/3924377

kidmugsy

SallyG wrote: »

... should they still be left to simmer for the full five years - what circumstances should trigger cashing them?

I expect to let ours simmer. I suppose we might cash them in if an obviously superior investment came along, but I suspect that's unlikely. It depends what you want - if you want your purchasing power preserved in the face of persistent but modest rates of inflation, they're the very thing. If you want insurance against the collapse of paper currencies, consider gold or silver. If you want to insure against house prices taking off again, look for something that covers you against that.

nrsql

You can ring them up and give your holders number and they will send a valuation with all the certificate numbers.

Mr_K

I don't like the way annual statements aren't automatically sent. Some might have moved house and forgotten about them or died over 5 years.

Not too happy on the security on them either. I may be wrong, but it seems from the cashing in form that all somebody needs is your signature and address to cash them in. Just tick a 'box' on the cashing in form if you've 'lost' the certificate, the cheque can also be made payable to anybody. If you'd been defrauded you wouldn't know for 5 years until your cert. is due for maturity.

I make a point of ringing up annually and asking for a written statement. Its not asking much of NSI to send an annual statement, better still you should be be able to view them online. NSI need to come into the 21st century

oldvicar

Mr_K wrote: »

I don't like the way annual statements aren't automatically sent. Some might have moved house and forgotten about them or died over 5 years.

Not too happy on the security on them either. I may be wrong, but it seems from the cashing in form that all somebody needs is your signature and address to cash them in. Just tick a 'box' on the cashing in form if you've 'lost' the certificate, the cheque can also be made payable to anybody. If you'd been defrauded you wouldn't know for 5 years until your cert. is due for maturity.

I make a point of ringing up annually and asking for a written statement. Its not asking much of NSI to send an annual statement, better still you should be be able to view them online. NSI need to come into the 21st century

If they were online, would you still be demanding annual paper statements?

In fact they are online - you CAN check the value online and annotate the theoretical value with your original paperwork if you wish - I don't bother.

The main points about them is that they are meant to be worry free, hassle free, tax free, and don't need to be mentioned on tax returns. There's enough paperwork from other savings which has to be kept without wishing for more, IMHO of course.

Mr_K

oldvicar wrote: »

In fact they are online - you CAN check the value online and annotate the theoretical value with your original paperwork if you wish - I don't bother..

No they're not online . The online calculator just does an estimate on whatever data you put in to it. It doesn't check your actual holding at all. It could be zero for all you know if somebody has cashed it in using your details, you wouldn't know until your 5 years are up.

Don't get me wrong, they are a great deal at the moment. I just find the way they are administered as archaic and less than secure.

oldvicar

Mr_K wrote: »

...
Don't get me wrong, they are a great deal at the moment. I just find the way they are administered as archaic and less than secure.

NS&I_website_front_page wrote:

Your money is safe with NS&I. We’re backed by HM Treasury, so all the money you invest is 100% secure.
Always.

Well they promise that your money is secure, and I don't think there is evidence of anyone having lost out, ever.