Treasury-backed National Savings & Investments (NS&I) will begin contacting estates affected by its bereavement tracing failures from 27 May, as it moves to repay £367m owed to around 34,000 estates.
The repayments come after pensions minister Torsten Bell MP informed the House of Commons on 26 March that NS&I had identified an issue where "the estates of deceased customers were not always repaid money from all of their accounts following a bereavement claim". According to NS&I, the issue arose because "the search process used when handling a bereavement claim failed to identify all NS&I products". The provider said the problem had been resolved for current and new bereavement claims from January 2026 and that operational processes had been changed "so that it does not reoccur". ...
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