Chancellor of the Exchequer, George Osborne today (15 January 2015) visited Cannock Chase in Staffordshire to talk to pensioners about the benefits of the government’s 65 plus pensioner bonds, which he launched earlier in the day. With annual interest rates of 4% for the 3 year bonds and 2.8% for the 1 year bonds, these bonds, which are now available for people aged 65 and over, will pay savers the best available rates in the market.
A key part of the government’s long term economic plan is to support savers at all stages of their lives and help hardworking people secure their financial futures. That is why the government announced at Budget 2014 that National Savings and Investments (NS&I) would launch 2 fixed-rate, market-leading savings bonds, and why the Chancellor confirmed in December last year that the interest rates these bonds would pay are significantly higher than any others currently offered in the market.
With an investment limit of £10,000 per bond per person, the government expects that the 65 plus bonds will help an estimated 1 million pensioners. The bonds are available directly from NS&I by post, phone or online, and will provide certainty and a good return for those who have saved all their lives and now rely on their savings in retirement.
Chancellor of the Exchequer, George Osborne said:
A key part of our long term economic plan is to support savers and boost hardworking peoples’ financial security at all stages of life.
That’s why we’ve introduced government-backed savings bonds for people aged 65 and over that pay the best interest rates in the market. They will give hundreds of thousands of older savers the certainty and comfort of a good return over the life of their investment.