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Pensioners Bonds Go On Sale, Horray! More Skint Young Subing The Well Off Old

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I hope someone challenges these bonds, one more reason to move abroad and not pay into this unfair system.

I agree. Surely this is the age-ism.

The people who really need savings bonds like this are the young.

Why would a tory government issue these 4 months before an election ?

Yet another reason for the young to get off the backside and vote these crooks out of office. IMHO.

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Just got a couple of cheery letters from the Skipton. My two account's interest rates will be dropping to 1.5 and 1.8 gross from March 15

"The past year has seen mortgage and interest rates fall, we have maintained out interest rates as long as possible but it's our priority to be fair to all our customers and so from......

Is another Government bung coming the Building Societies before the election to keep mortgages low ? And is this why the Pensioner bond has been released because saver rates are going to fall across the board ?

fair, faiR, faIR, fAIR, FAIR FAIR ?

Edited by LiveinHope

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http://www.which.co.uk/news/2015/01/pensioner-bonds-spark-savings-rates-landslide-392991/

Savings rates have been slashed at a rate of nine per day since the introduction of pensioner bonds, according to Which? research.

Our new study indicates that 63 savings accounts, Isas or bonds had their interest rate lowered in the seven days following the launch of the market-leading pensioner bonds by National Savings & Investments on 15 January.

A total of 27 savings companies have taken the decision to reduce interest rates during this time. The biggest rate reductions have come from Aldermore Bank, Charity Bank and Nottingham BS, which all reduced rates by 0.50% on some savings products.

Halifax has reduced the rate on its Passbook Saver by 0.40%, Norwich & Peterborough Building Society has cut the rate on its fixed-rate bonds by 0.30%, while Lloyds TSB, Natwest, Royal Bank of Scotland, Shawbrook Bank and Tipton & Coseley Building Society have all slashed at least one savings rate by 0.25%.

The Which? Money Compare savings and Isa tables let you search hundreds of savings accounts and Isas from providers large and small to find a good account based on quality of service as well as rates, costs and benefits.

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I see the correlation but I don't understand the causation.

Unless the Gov't are so desperate for cash that other organisations have been persuaded to lower interest rates on competing products in order to help encourage the uptake of Pensioner bonds. (I think I must have drunk too much wine.)

Edited by LiveinHope

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