N S I inflation savings October calcs wrong

Glen_Clark

talexuser wrote: »

tell NS&I how to fix their calculator and sack the incompetent doing the programming.

They won't want anyone competent in case they give us the real rate of inflation :eek:

fonesaver

It's fixed!

talexuser

The calculator is now a fiver more than jsinc's calculation, and my login value is still wrong, even though the site was down earlier, leading me to suspect something being updated.

twokcc

Phoned this morning, couldn't remember my password( set up for premium bonds which I sold 5 years ago).
Very nice lady said aware of problem and web site was being updated but didn't know when it would be OK so sending me a statement in post.
Calculator now looks as if updated and now showing a reasonable gain in value for month so now happy and this is one investment I wont be cashing in on.
Notice press coverage of R.P.I. now seems to be non existent but with it at 2% for last month(i.e.twice C.P.I.) and at nearly 3% if you take first 6 months of this year it could be heading for 4% next year once £ devaluation feed thro.

talexuser

twokcc wrote: »

Notice press coverage of R.P.I. now seems to be non existent but with it at 2% for last month(i.e.twice C.P.I.) and at nearly 3% if you take first 6 months of this year it could be heading for 4% next year once £ devaluation feed thro.

Exactly what i thought when I looked at the figures. The news now routinely says "inflation is 2%", often without qualification, a sucess for those who want us all to forget RPI that was used for comparison purposes for so many years.

Fella

You gotta say it's hardly comforting that they can get the monthly calculations wrong so often. I think we tend to assume the final valuations each cycle are correct but if the monthly calcs are wrong sometimes why shouldn't the final valuations be....?

Incredible really, it's not as if it involves any element of randomness. How is this not just a piece of code somewhere that simply requires the updated RPI figures to be pumped in each month by NSANDI to produce a reliable accurate valuation......?

talexuser

Fella wrote: »

simply requires the updated RPI figures to be pumped in each month by NSANDI to produce a reliable accurate valuation......?

Precisely, if the calculations can be correct then the algorithm to produce them must be right. If one starting RPI is the rollover date, that must be constant, so the only entry needed is the last inflation figure since surely the number of months is taken care of automatically in the formula just as you would in a simple spreadsheet. So how the online valuation can be different to the calculator is even less understandable.

twokcc

UPDATE
Got statement in post and its nearly£200 less than the updated calculator.
As someone has suggested maybe need to check the calculations when these are cashed in (I have cashed 2 of mine in).
Is it worth starting another thread regarding valuations and seeing if other posters have checked theirs when cashing in?

talexuser

Unbelievably my account total is still £258 less than the calculator value (which is £6 more than jsinc's correct calculation). And this after I mailed them, soon after that the calculator changed but not the account. Will November be correct or will this bunch of incompetents still not be able to agree within themselves or actually get it right?

PS I checked the rollover in May and that was correct. The vast majority of months calculator are correct, occasionally they crap out like now and then spectacularly.

twokcc

Now checked my statement. I rang up after 15th Oct R.P.I. figures were released to obtain an uptodate valuation. Looks as if valuation is for previous month-although letter is dated 25th October.
So N.S.I.must try harder -its no good having a really helpful lady answering calls if you still send outdated information