Relief for savers?

Relief for savers?

Pensioners who have seen their savings hit by low interest rates have been offered a lifeline by the Government.
It announced yesterday that it is to offer over-65s a new account with bumper interest rates.
The pensioner bonds will pay a far higher return than anything available on the High Street – 2.8 per cent on one-year bonds and 4 per cent for those able to invest their cash for three years. That is double the best rates offered by major banks.

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Published in Senior Chatters


  1. watergypsy87

    Thanks for that Gael…. will have to look in to those bonds…looks a much better investment than lending it to my

    1. roseinbloom

      Watergypsy, maybe not. Seriously,investing in our children can be a great investment. My grandson is living with me and he pays nothing and contributes little except I have seen him thrive and he is getting an education and it all makes my heart glad.

    1. Gael

      Land is usually thought to be the best investment generally speaking Star. And true about your comments but not everyone owns property and at least this is one option open to those who do not.

  2. starlette

    Bricks and mortar has always been the best investment………so glad I was able to buy years ago, mortgage finished way back, now rent it to my daughter, what else is going to bring you a few hundred pounds a month in………ISAs and bank accounts certainly do not…….

  3. waylander

    I saw this announcement too, but remember there is a general election next year and god alone knows what a new government may do to these bonds.

    So before entering into one, PLEASE make sure you have read ALL the fine print

    1. Gael

      The details and setup will not emerge until January. And all fine print should always be read under any circumstances.

      1. Gael

        I am subject to taxes on savings too Lan,i when I file my US income tax. (still subject to that even though I reside in the UK!) And the UK governmenmt takes tax out directly from a trust fund I have in the UK.

        So don’t feel bad..haaaa.

        1. lani36

          Ha ha Gael, no I dont. feel bad ,just stating what govs are like now cash grabbers from the most needy and the wealthy Companies offset their taxes by having more than one company to offset their taxation duties and have other Companies off shore to minimise their tax obligations .

  4. lani36

    A lot different to Australia, if we save over $2.000 we are penalised and we have to pay taxation on our savings under the deeming laws…if we have over $ insavings or assets if we are single , we have the pension reduced, that does not includeone’s home ,but cars, boats , caravans etc” so we have to either sell them , if on the other hand we gift them to relaitives or our family, we are taxed upon those proceeds as well …

  5. vonMichael

    From the UK via Germany down to Australia now you know what heads of states do when they meat; they find new tax variations and that goes like this;

    Have you a new idea for taxation? Yes I’ll pass it on to you. It works perfectly. But by the way have you got one for me?? Or have you any idea how to renew or rename one of the old ones?

    So as there is no copyright for taxation tax variations will go round the globe.
    Have you ever heard of the Bilderberg Conference or is it unknown to you???
    A screen search will venture you behind a secrete.