Millions of savers are to be hit by a series of interest rate reductions announced by the Treasury-backed savings giant NS&I.
The institution, which has 25 million customers and a duty to balance the needs of savers, taxpayers and the wider market, said the changes would take effect from May. They include making the premium bonds prize fund rate less generous.
“This is another kick in the teeth for savers,” said Baroness Altmann, the former pensions minister.The Times quoted her as saying: “Many people, especially older generations, have used NS&I all their lives and know it is safe, so they want […]
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