National Savings & Investment has pulled its hugely popular inflation-linked savings certificates.
The announcement is the latest blow to savers who have seen their income plummet at a time when most savings accounts fail to offer any real rate of return once inflation and tax are taken into account.
NS&I’s website and call centres stopped taking new sales of Savings Certificates yesterday. Postal applications received today (7 September 2011) will be honoured, but all postal applications received after midnight tonight will be returned to the customer.
But I'm all right, Jack. I'll get my inflation plus for the next five years. To them that hath shall be given, and all that.