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

tillycat123

I took out a certificate in 2011 for my then 13 year old 18 now, its not a child one but the regular Index Linked one, its due to mature in July.

It reads my name and then held in trust for my sons name. Is this one going to be possible to roll over in any shape or form?

I had hoped it would be but I've not had any paperwork through yet but reading online the changes I wonder if it will have to mature and have no maturing options available other than cash it in.

Anyone know?

jsinc

kittie wrote: »

I was glad to see your answer, it was helpful to me, thank you. I have 2 x 5 year certs maturing on 10th june, widowed now so inherited one. I am going to roll them both over, tax free and safe so nothing to lose. I have another two bonds (saga) maturing in august, so will have a cash lump sum then too

The importance of tax-free and investment term risk really depend on personal circumstances.

If my parent was in your position I'd suggest looking at them as rolling one-year certificates. i.e. reassess annually on the anniversary date (rather than forget about it for five years) to be sure you're still happy with the investment vs alternatives and those personal circumstances.

I hope that doesn't read as patronising, just don't want to feel that anyone's following my opinion when nobody knows what RPI will be next month let alone in 5 years.

typistretired wrote: »

Thank you for your reply but I wouldn't know what to do with that formula once I had entered into the spreadsheet! All I use is the autosum for adding up columns!

Sorry I made assumptions (copy/paste the example) but glad your son helped.

gadgetmind

We "filled our boots" and self+spouse took a full cert each and another each held in trust to the other, so 4 x £15k. It will be interesting to see roll over options.

typistretired

Wont receive final figure until next week as only matures Friday will let you know the figure.

typistretired

Sorry I made assumptions (copy/paste the example) but glad your son helped.[/QUOTE]



I managed the copy and paste but didn't have the foggiest what to do then. My son quickly clicked a few keys and got the answer when he is a bit less busy I will ask what he did.

polymaff

jsinc wrote: »

(1+ (Final amount - Start amount)/Start amount)^(1/years invested)-1

e.g. = (1+(9207-8000)/8000)^(1/5)-1

Which reduces to the somewhat simpler:

(Final amount/Start amount)^(1/years invested)-1

e.g. = (9207/8000)^(1/5)-1

Stubod

..mine just up (3 yr)..have decided to re "invest" for another 3 yrs...have a few, and overall have given about 3% overall, so can't think of a better place at the mo....

polymaff

Stubod wrote: »

..mine just up (3 yr)..have decided to re "invest" for another 3 yrs...have a few, and overall have given about 3% overall, so can't think of a better place at the mo....

Are you sure about that calculation? I had a 3yr certificate mature two days ago, yielding an AER of 1.79% (That's about 5.5% growth over the cert's life)

And that was with a coupon of fifteen times today's pathetic rate.

AnotherJoe

polymaff wrote: »

Are you sure about that calculation? I had a 3yr certificate mature two days ago, yielding an AER of 1.79% (That's about 5.5% growth over the cert's life)

And that was with a coupon of fifteen times today's pathetic rate.

Are you looking at the interest rather than the RPI figure .. Because i don't recall inflation being 15x what it is now only 3 years ago.

6022tivo

I have just had a letter of my 5 year maturing.

Have the option to automatically reinvest in a 5yr +0.1% or I can choose a 3yr +0.1%

How I see it, I may as well switch to the three year. Don't see the point of the 5 year at this stage?

The renewal offer in 3 years can't be much worse?