The New 65+ Savings Bonds Are Finally Here!
Following the Chancellor’s announcement in his 2014 Autumn statement, the new National Savings and Investments (NS&I) savings bonds have been launched today, writes Bevan & Buckland’s Financial Planning Manager, Gareth Tregidon.
Whilst it was originally advised that these would be launched “sometime in January”, no further details had been provided as to exactly when this would be. Given the market leading rates on offer, it has been widely predicted that the bonds, which are a limited issue, would be extremely popular and would therefore sell quickly. Following the announcement by The Treasury this morning that the bonds were to be placed on sale from today, the NS&I website has been inundated.
As interest is only paid on maturity, these bonds should be seen as being for growth rather than income. Interest is quoted gross but paid net, and the rates are 2.80% per annum for the 1-year bond and 4.00% per annum for the 3-year bond. Please remember that you must be age 65 or over to apply.
Further information can be found on the NS&I website at
If a 1 or 3 year fixed rate bond suits your requirements, our recommendation is to apply as soon as possible, as these will sell fast!
Financial Planning Manager
Gareth Tregidon is manager of Bevan & Buckland’s Financial Planning Department, which operates from the firm’s Swansea, Pembroke and Haverfordwest offices. The department provides fee-based advice to personal and business clients, both from within the firm and elsewhere.
Gareth is a Certified Financial PlannerCM and an accredited Later Life Adviser with the Society of Later Life Advisers (SOLLA). He is former Chairman of the Institute of Financial Planning in South Wales, and an assessor for the internationally recognised Certified Financial PlannerCM licence.
Bevan Buckland Accountants Swansea Tel: 01792 410100
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