PENSIONERS in Jersey who have invested in National Savings may have lost out in recent changes designed to ‘simplify and streamline’ the products.
UK-based National Savings in February withdrew their Pensioners Guaranteed Income Bonds from sale, which means that existing bonds will not be earning any interest after the maturity date.
Savers can choose whether to cash in their bonds or reinvest in another product, but the newer products do not seem to offer the same benefits.
At least one investor who called the Jersey Evening Post said that many elderly people were confused by the changes, which have been in force since February.
