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

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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.....

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