NS&I index linked: T&C will change on 20/09/2012!

Lower_North

kar999 wrote: »

Post in the Guardian

http://www.guardian.co.uk/money/2012/aug/15/nsi-early-withdrawl-penalties

What is their definition of "current year" for losing index linking?

does the new year begin in January?
or
April
or
Anniversery of when index linked bond was taken out?

Not sure if this is still a good hiding place for money...

le_loup

Anniversary of certificate date.

david78

I have two Index Linked Certificates that mature in October. I have decided to re-invest these for the same term (3 years) even with the new T&Cs (I expect to keep them for the full term).

I note that the online calculator and spreadsheet calculator only works for the older type certificates (bought before 20/9/2012). Can someone confirm that I will be able to monitor the performance of the new certificates by signing up for an online account?

dab43

Will the changes affect me?
Yes, if you:
have any existing NS&I fixed term investments that mature on or after 20 September 2012, and you decide to renew them

So does this mean that because I have 5 year certificates opened in May 2011, that if I renew them after they mature in 5 years that I will be charged on the new ones but not the May ones if I cash them in?.

dab43

Is there a possibility that NSI could introduce the penalty charge on existing investments, has anybody have this happen in the past, in any way?.

http://www.nsandi.com/changes-indexlinkedsavingscertificates




If you have an existing Index-linked Savings Certificate, don’t worry. The changes will only affect you if your Certificate matures on or after 20 September 2012, and you choose to renew it for a further term.[/QUOTE]

le_loup

Did you miss this bit:
What happens next?
If you have an existing Index-linked Savings Certificate, don’t worry. The changes will only affect you if your Certificate matures on or after 20 September 2012, and you choose to renew it for a further term.
on the page you addressed?

Freda28

I have two childrens bonus bonds that have just reached maturity, is it right they are no longer paying the five year bonus, due to the changes applicable from 20 September.

le_loup

The new terms don't apply to existing bonds, only to new or renewals after 20th Sept.