Fylde MP hails new pensioner bond scheme

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FYLDE MP Mark Menzies today welcomed the launch of a new National Savings and Investments (NS&I) Bond for pensioners.

The new bonds, for people aged 65 and over, will offer market-leading rates and support people who rely on their savings in retirement.

And Mr Menzies said it was good to see savers receive a welcome boost after a difficult period of low interest rates.

He added: “This is great news for pensioners in Fylde. It’s time savers were rewarded and these bonds do that by giving older savers the certainty and comfort of a good return over the life of their investment.”

Two bonds are being launched as part of the Government’s rollout:

•             A one year bond will offer returns of 2.8 per cent gross/AER interest,

•             A three year bond will pay 4 per cent gross/AER interest.

The Government has made £10bn available to allow the bonds to be issued which should ensure they remain on the market for an extended period, giving those pensioners who wish to take advantage of the high rates plenty of time to do so.

Mr Menzies added: “A key part of our long-term economic plan is to support savers and boost hardworking peoples’ financial security at all stages of life.

“The bonds have already been a huge success and because this is the biggest ever retail bond offer, they will hopefully be available for many months.”

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