Interest rates are a joke to over 55s. My bank just told me its reducing its rates to a wonderful 0.01%!! Really? That actually means 10p a year for every £1000 I have saved. Seriously if Pensioners cannot get anything on their savings yes they'll spend it but not on stuff to help the economy just on living, food, heating etc. Then when its gone they'll expect handouts to live hence its self defeating of the Government. They'll not forgive them.
Nice to hear that they've set up a wonderful 2.2% Bond with NS&I, but you can only put £3k in it that's a wonderful income of £66 per year. What will i get for that, maybe 6 bottles of cheap wine. Ridiculous.
I'd be better buying premium bonds. If my £1000 gets just one £25 prize a year I'm in front.
Don't HMG get it they should be using pensioners savings to invest in the economy and generating growth. If they offered a decent rate say 5% then pensioners would invest in Government bonds.
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