Mark Pawsey, MP for Rugby and Bulkington has welcomed the launch of a new National Savings and Investments Bond for pensioners. These bonds for people aged 65 and over will offer market-leading rates and support people who rely on their savings in retirement. The Government is launching two different bonds, allowing savers to choose the one most suitable for their needs.
• 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.
£10 billion has been made available to allow these bonds to be issued – this should ensure these bonds are on the market for a period of months, giving those pensioners who wish to take advantage of the rates plenty of time to do so.
Mark said:
“A key part of this Government’s long-term economic plan is to support savers and boost hardworking peoples’ financial security at all stages of life. It is important that we recognise and reward those who have worked hard and done the right thing in their life.”
Mark continued:
“That’s why we’ve introduced government-backed savings bonds for people aged 65 and over that will pay the best interest rates in the market. I am pleased that they have already been a huge success and because this is the biggest ever retail bond offer, these bonds will be available for many months.”
Mark concluded:
“This is great news for pensioners in Rugby and Bulkington. It’s time savers were rewarded and this government will do that through these bonds by giving older savers the certainty and comfort of a good return over the life of their investment.”