Petition Protect hundreds of thousands of savers by preserving NS&I's use of the RPI
Reverse Treasury-backed NS&I's decision to switch the formula for increasing its index-linked savings certificate from the RPI to the CPI from May 2019 – and protect half a million pensioners' incomes.
Around 500,000 people hold NS&I's index-linked savings certificates. From May 2019 NS&I is switching its measure of inflation from the retail prices index to the consumer prices index.
This will lower the interest the certificates pay as CPI is usually lower. NS&I says the switch is in line with Government policy. Yet rail fares and student loans increase with RPI. The Government should honour the original terms of the certificates until such a time as taxpayer costs are also increased with CPI.
At 10,000 signatures...
At 10,000 signatures, government will respond to this petition
At 100,000 signatures...
At 100,000 signatures, this petition will be considered for debate in Parliament