National Savings Bonds: Pensioners

HM Treasury written question – answered on 17th February 2015.

Alert me about debates like this

Photo of Richard Burden Richard Burden Shadow Minister (Transport)

To ask Mr Chancellor of the Exchequer, what the average waiting time was for calls to the pensioner bond application telephone service in each year for which figures are available.

Photo of Richard Burden Richard Burden Shadow Minister (Transport)

To ask Mr Chancellor of the Exchequer, what (a) assessment he has made of the efficiency of and (b) representations he has received about the telephone service for pensioner bond applications.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

This product launch has had the biggest opening sales of any retail financial product in Britain’s modern history. In advance of the launch NS&I doubled the size of their call centres, and have now added further staff to help manage the high call volumes.

Average call waiting times vary depending on time of day and different phone lines.

Low interest rates have played an important part in stimulating the recovery. But there are those – especially pensioners – who rely on a reasonable rate of interest on their savings. These new savings bonds pay a market leading rate and are designed to help support those who rely on their savings in retirement.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.