Computer glitch hits 15,000 NS&I savers-papers

clock

Thousands of people who bought into low-risk savings certificates with the government's savings arm have been short-changed due to failings in its computer system, according to the Times.

About 15,000 savers who cashed in index-linked savings certificates from Treasury-backed National Savings & Investments (NS&I) before maturity and not on an annual anniversary date have received less in interest than they should have. The certificates are designed to beat inflation, as measured by the retail prices index (RPI), by a margin of interest — 1% at present. In the event of deflation, only the interest is received. Full story.....

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Compliance-focused adviser generation 'lost the human touch'

Compliance-focused adviser generation 'lost the human touch'

‘Now there's soft skills training but advisers naturally did it back then’

Isabel Baxter
clock 24 April 2024 • 2 min read
Advice firms face data challenges amid new regulation

Advice firms face data challenges amid new regulation

Firms face challenges in collecting data and due diligence processes

Sahar Nazir
clock 24 April 2024 • 1 min read
PA Working Lunches: Register today to hear from Baillie Gifford

PA Working Lunches: Register today to hear from Baillie Gifford

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 24 April 2024 • 1 min read