Savings blow to pensioners

Thursday 5th June 2008, 3:00PM BST.

PENSIONERS in Jersey who have invested in National Savings may have lost out in recent changes designed to ‘simplify and streamline’ the products.

UK-based National Savings in February withdrew their Pensioners Guaranteed Income Bonds from sale, which means that existing bonds will not be earning any interest after the maturity date.

Savers can choose whether to cash in their bonds or reinvest in another product, but the newer products do not seem to offer the same benefits.

At least one investor who called the Jersey Evening Post said that many elderly people were confused by the changes, which have been in force since February.

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1
paul

June 6, 2008 at 5:01 pm

i’d be interested to read what the States are doing to facilitate private pensions for Jersey residents. i dont think it would take long to read.

seriously, what is the States doing to provide a framework for pension provision for Jersey residents? can you believe we dont have one?

what do we pay these people for?

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