NS&I 5 year index linked saving certs 2011 issue - half way point!

polymaff

taylornj wrote: »

My letter arrived today, same amount £17191.60.

..and others

If we are still all talking of an Issue 48, 5yr, £15k ILSC issued in May 2011 (as per OP), then £17,191.60 is NS&I's wonky estimate of the redemption value. The actual redemption value will be £17,263.72 - and you should hear from NS&I with this figure soon.

AnotherJoe

polymaff wrote: »

..and others

If we are still all talking of an Issue 48, 5yr, £15k ILSC issued in May 2011 (as per OP), then £17,191.60 is NS&I's wonky estimate of the redemption value. The actual redemption value will be £17,263.72 - and you should hear from NS&I with this figure soon.

Will they reissue the letters then? Seems expensive.

I see from the website these cannot be managed online either which is annoying.

GreenBitterfly

Just received my renewal letter, will be getting £573.06, just over £73 on £500, it's not bad. I think I will be re-enrolling into a 3 year certificate.

HardCoreProgrammer

I do not think this is a conspiracy theory at all. It is fact.

RPI does not take into account of house price inflation, and it includes prices of gadgets which are always falling in price (thus dragging down the RPI).
My inflation rate would be 0.1% if I live off my parents at home, do not do the weekly shop and buy lots of gadgets. Well I am long past that stage now.

polymaff

AnotherJoe wrote: »

Will they reissue the letters then? Seems expensive.

They should and, yes, it is expensive. A while ago NS&I decided that it needed to give its customers a minimum period of notice (a month?) of a bond's maturity. The corollary of this was that this notice might be given before the true redemption value was known. As the relevant RPI figures came out quite early in April - the 12th - and the 48th Issue earliest maturity date will be the 12th May, I would have thought that they could have stretched things so that they didn't have to send out the estimated redemption letters this time; but there you are, bureaucracies don't do flexibility, do they?

AnotherJoe

HardCoreProgrammer wrote: »

I do not think this is a conspiracy theory at all. It is fact.

RPI does not take into account of house price inflation, and it includes prices of gadgets which are always falling in price (thus dragging down the RPI).
My inflation rate would be 0.1% if I live off my parents at home, do not do the weekly shop and buy lots of gadgets. Well I am long past that stage now.

Perhaps you are confusing it with CPI?
http://www.telegraph.co.uk/finance/economics/9792480/Inflation-RPI-CPI-and-RPIJ-explained.html


RPI is currenly used to index various prices and incomes including tax allowances, state benefits, pensions and index-linked gilts.
Like CPI, it looks at the prices of items we spend money on, but it includes housing costs - such as council tax - and mortgage interest payments.

[Deleted User]

My 5 year ILSC matures on 14 May. I received the maturity letter yesterday. I invested £15K in May 2011 and the estimated maturity value is £17191.60.

I would like to reinvest £9000 into a 3 year certificate, and the balance into a 5 year certificate.

I realise that, if I do nothing, the whole maturity amount will be reinvested into a 5 year certificate. I will need to complete and return the maturity form.

A cursory reading of the maturity letter and accompanying literature doesn't make it clear if you can "split" the maturity proceeds as between 3 and 5 year terms. I know you can withdraw part of the money and reinvest the rest, but can you split the reinvestment amount between 3 and 5 year terms?

The form suggests (I think) that you can, but if anyone could confirm, I'd be grateful.

Many thanks.

polymaff

Deleted_User wrote: »

My 5 year ILSC matures on 14 May. I received the maturity letter yesterday. I invested £15K in May 2011 and the estimated maturity value is £17191.60.

I would like to reinvest £9000 into a 3 year certificate, and the balance into a 5 year certificate.

I realise that, if I do nothing, the whole maturity amount will be reinvested into a 5 year certificate. I will need to complete and return the maturity form.

A cursory reading of the maturity letter and accompanying literature doesn't make it clear if you can "split" the maturity proceeds as between 3 and 5 year terms. I know you can withdraw part of the money and reinvest the rest, but can you split the reinvestment amount between 3 and 5 year terms?

The form suggests (I think) that you can, but if anyone could confirm, I'd be grateful.

Many thanks.

Section 4 of the application form "Instructions to renew or cash in at maturity ..." permits up to a four-way re-investment split of the £17,263.72 redemption value.

veryintrigued

Bumping up in the hope when even more forumites receive their letters on Monday they use this thread to discuss

Lorian

veryintrigued wrote: »

Bumping up in the hope when even more forumites receive their letters on Monday they use this thread to discuss

Thread title needs an update to help....