Virgin Money launches new 'early bird' ISA service

Thu, 23 Feb 2012 14:48:55 GMT

Virgin Money has launched a new 'early bird' ISA service for savers. By opening an Early Bird ISA Feeder, customers can use the service to start earning interest on next year’s ISA allowance now - without having to wait for the new tax year to start in April. The Early Bird ISA Feeder offers a competitive interest rate of 3.57% gross**/AER***, or 2.85% net, giving savers the same return as Virgin Money’s current variable cash ISA. The interest rate is fixed until 5 April 2012, following which the funds will automatically transfer into an Early Bird ISA for the new tax year.

The Early Bird ISA is a variable rate instant access cash ISA, paying 2.85%. This attractive headline rate offers good value for customers and it does not include a short term introductory bonus.

Accounts are available to open through Northern Rock branches, by post or by telephone, and savers can invest between £1 and the new 2012/13 cash ISA limit of £5,640.

Anthony Mooney, Mortgage and Savings Director at Virgin Money said: "Our new early bird ISA service means customers can take the hassle out of arranging their ISA for the next tax year by sorting it out early. Savers can earn an attractive interest rate between now and the start of the new tax year in our Early Bird ISA Feeder, safe in the knowledge that their money will automatically transfer into a tax-free ISA account in April."

Interest earned on the Early Bird ISA Feeder will be paid to a nominated account on 5 April 2012, and does not allow any withdrawals or closure until the new tax year. Additional deposits can be made to the Early Bird ISA Feeder until 30 March 2012 up to a maximum of £5,640 per account. Once the funds have transferred into the Early Bird ISA, withdrawals can be made without notice, and additional deposits and transfers in from existing ISA accounts are permitted within HMRC regulations.

The Virgin Early Bird ISA Feeder and Virgin Early Bird ISA are personal deposit accounts with Northern Rock plc. The Financial Services Compensation Scheme (FSCS) provides protection to customers with these accounts under Northern Rock plc's existing FSCS membership up to a maximum of £85,000 per person. The £85,000 limit relates to a customer's combined deposits with Northern Rock plc under the Northern Rock and Virgin Money trading names.

- ENDS -

Notes to Editors:
* Interest on the Virgin Early Bird ISA is subject to deduction of tax in the usual way. The net interest rate following deduction of tax of 2.85% is equivalent to the interest rate payable on the Virgin Easy Access Cash ISA.
**Gross is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless customers are eligible to receive interest gross and submit the required registration form to Virgin Money.
***AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Virgin Money
Virgin Money announced the acquisition of Northern Rock plc from Her Majesty's Treasury on 17 November 2011. The deal completed on 1 January 2012.

Combined with Virgin Money's existing business of three million customers, the enlarged Group will have over four million customers.

About Northern Rock:
On 1 January 2012, Northern Rock was acquired by Virgin Money.

Northern Rock is a bank, authorised by the FSA as a deposit taker and mortgage lender. It offers savings accounts, including fixed rate bonds, and mortgages to customers in the UK. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Ulster Bank has Regular Savers Surge

Thu, 03 Nov 2011 10:21:25 GMT

Ulster Bank’s Regular Saver Special Interest Deposit Account was launched in April 2010. Since then more than 416 accounts per week have been opened making it one of the most popular savings products launched by the Bank.

Figures issued by Ulster Bank today have shown a surge in the number of regular saving customers across the island of Ireland. Between April and September of this year, the Bank saw an increase of over 50% in the number of regular savings accounts opened, with customers saving £260, on average each month.

Most popular with young professionals, Ulster Bank’s Special Interest Deposit Account, is simple and flexible allowing customers to set their own goals and develop the savings habit.

“We have been pleasantly surprised by the response from customers to develop their savings habits. At a time when bills are rising and incomes are being stretched it can be difficult for people to plan for their futures”, said Stephen Cruise, Managing Director, Branches, Private Banking and Advice NI at Ulster Bank.

“Listening to customers, we designed an innovative account that provides the comfort of instant access, the freedom to change the amount saved each month and a rewarding rate, whether you can save £1 or £1,000 each month. It really is a simple way to start saving for the future or just a rainy day.” Stephen continued.

Both new and existing customers can open a Special Interest Deposit Account at any Ulster Bank branch, online at www.ulsterbank.co.uk/savings, or over the telephone on 0800 046 6486 (NI).

Further information on the full range of savings accounts available from Ulster Bank can be found at: www.ulsterbank.co.uk/savings or in any Ulster Bank branch.

* £300 saved per month leads to £58.50 interest at the anniversary of the first deposit.

Northern Rock introduces new Online Reward instant access account for savers

Thu, 01 Sep 2011 14:23:19 GMT

Northern Rock has launched a new competitive Online Reward account, adding further options to its flexible savings range.

For those who prefer the convenience of the internet with which to manage their savings, Online Reward, which is available to open with a minimum deposit of £5,000, pays a competitive interest rate of 3.11% gross* pa/AER** variable on balances over £5,000, which includes a bonus rate of 1.61% gross* for the first 12 months from account opening. (Balances falling below this rate will receive Northern Rock's prevailing rate of interest which is 0.10% gross* pa/AER** variable).

Those who prefer a monthly interest option can choose to receive 3.07% gross* variable (3.11% AER**), and additional deposits can be made up to the maximum balance of £100,000. Only one account per customer per issue is allowed.

Interest can be paid annually on 11 March. Alternatively, interest can be paid monthly on the 10th day of the month (available next business day or three days following this if the funds are sent via BACS to an external account).

Withdrawals from Online Reward can be made via a nominated bank or building society account without notice or charge (there is a £35 fee if customers choose to transfer via CHAPS). The minimum withdrawal amount is £1.

To apply for Online Reward, interested parties can visit www.northernrock.co.uk, or for more information regarding Northern Rock's other savings products, call 0845 631 5151 (calls are charged at the service provider's prevailing rate and may be monitored and recorded).

Notes to Editors:
Online Reward offers instant access savings at a highly competitive rate of 3.11% gross* pa/AER**
Up to six notice-free withdrawals are permitted each year - including account closure

*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless you are eligible to receive interest gross and submit the required registration form to us.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Northern Rock:
Northern Rock plc is a bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts and an isa to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries. Northern Rock also offers an online mortgage calculator to its customers.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock partners with moneysupermarket.com to offer exclusive Online ISA

Wed, 31 Aug 2011 15:27:53 GMT

Northern Rock is offering a top-paying online cash ISA to complement its competitive portfolio of branch, postal and online savings accounts. This ISA is exclusively available through moneysupermarket.com and pays 3.05% tax-free* pa/AER** variable, with no bonus rate attached.

The exclusive Online ISA offers those who prefer to operate their accounts via the internet an instant access option for their tax-free* savings, and can be opened with no minimum initial deposit.

Kevin Mountford, head of banking at moneysupermarket.com, said: "If you're a UK taxpayer then it is important to make full use of your annual tax free allowance so you can make the most of your money.

"Not only is it important to make sure you find the best deal for your current savings needs, but you should always remember existing savings invested in ISAs elsewhere, which could be languishing on a poor rate.

"Moving existing savings into an account, such as Northern Rock's Online ISA which allows transfers of existing funds, can be beneficial but make sure you follow the proper ISA transfer procedures otherwise you will lose the tax free status on your savings."

Interest, which can be added to the account or paid into another account, is paid annually on 11 March on minimum balances of £1 (balances which fall below this amount will earn Northern Rock's prevailing rate of interest, 0.10% tax free* pa /AER**).

Strictly a limited issue, the variable rate Online ISA allows transfers in from other providers and additional deposits can be made to the cash ISA , within HM Revenue and Customs limits (£5,340 pa from 6 April 2011) up to 30 days after the product is withdrawn.

After this time, no further deposits will be accepted and this issue may be withdrawn without notice once fully subscribed.

Minimum withdrawals of £1 by BACS and £250 by CHAPS can be made from the account; however the customer will lose the tax free status on the amount withdrawn. There is a £35 fee for transfers out via CHAPS.

Notes to Editors:
Details of the online ISA:
Instant access, variable rate tax-free* account
No bonus rate attached
3.05% tax-free* pa /AER** variable
Exclusively available through moneysupermarket.com

*The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

- ENDS -

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries. Northern Rock also offers an online mortgage calculator to its customers.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

The BITC Awards identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace. The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK's leading awards for responsible business practice.

Business in the Community stands for responsible business. More information can be found at www.bitc.org.uk

Standard Life reveals university debt headache for parents

Tue, 23 Aug 2011 14:36:29 GMT

Standard Life has revealed that more than half of parents potentially underestimate the maximum amount of debt their child could leave university with.

When asked to take into account the increase in tuition fees to a maximum of £9,000 per year from 2012, and any other debts accumulated from living expenses, student loans, bank loans etc. 58 per cent of parents think the maximum debt their children could leave with is £40,000 or under, including many who think this would be a lot less. This total is well under the maximum figure of £54,000 calculated by the long-term savings and investment company Standard Life.

Despite this, a fifth (21 per cent) of parents have started to make regular savings to help ease the costs of their children's university education, and nearly a quarter (23 per cent) of parents are putting money aside on special occasions (e.g. birthdays or one-off windfalls).

Julie Hutchison, head of technical insight at Standard Life, said: "The findings of our research are positive as they show that parents have identified the need to save for their children's time at university. Unfortunately their expectations of what that cost could be and therefore the target amount they want to save might actually be too low."

Parents who have longer to save are taking full advantage, as more than half of parents (55 per cent) with children aged 0 to 9 are putting money aside for their child's university costs. Conversely seven out of ten (70 per cent) parents with children aged 14 to 17 aren't doing the same.

Julie continued: "Attending University is of course a worthwhile pursuit but can be expensive with the costs of tuition fees, living costs and course material all adding up over the years. Even though a student loan can be taken to cover all these outgoings, parents can also seriously help reduce these costs."

More than half (53 per cent) of parents who save on a regular basis are saving less than £50 a month towards their child's university costs, 27% are saving £50 - £100, 7 per cent are saving £101 - £200 and 4 per cent of parents are saving more than £200.

Out of the 56 per cent of parents who are not saving for their children's university costs, almost two-thirds (63 per cent) say they can’t afford to at the moment, with one in ten (10 per cent) having just not considered it.

The research also looked at the saving attitudes of grandparents of children under 18, with one in ten (9 per cent) saving for their grandchildren's university education on a regular basis, 16 per cent on occasions and 2 per cent as a one-off lump sum. Of those not saving, a quarter (24 per cent) have just not considered it, with 15 per cent thinking the child's parents are saving up sufficient funds.

Regionally parents in the Midlands are saving the most with 52 per cent putting money aside for their children's university costs. It's followed by London (48 per cent), Scotland (44 per cent), Southern England and East of England (both 42 per cent) with the North of England saving the least (39 per cent).

- Ends -

About Standard Life:
Standard Life is a leading long term savings and investments company headquartered in Edinburgh and operating internationally. Established in 1825, Standard Life provides life assurance, annuities, life insurance, savings products such as stock and shares ISAs, investment bonds, tax efficiencies, pension products, financial planning and investment management to around 6 million customers worldwide.

Ulster Bank Survey Shows First Holy Communicants Save More than £750,000 from £2M in Gifts

Mon, 15 Aug 2011 14:41:02 GMT

A survey by Ulster Bank reveals that more than £750,000 is being saved by young people who made their First Holy Communion in Northern Ireland recently.

Around 9,000 young people made their First Holy Communion in Northern Ireland in 2011. The average amount of money received per child in gifts was £229 (over £2million in total). Of this, on average, young people say that they spent £144 on items including toys, books and clothes, with the rest, £85, being saved.

The findings are part of a nationwide survey carried out by Ulster Bank as part of its commitment to supporting customers to make good savings decisions.

In line with the current economic environment, the survey shows that parents in Northern Ireland spent less on communion day in 2011 on average than they did in the previous four years (£524 this year compared to £677 on average in the years 2007-10). This included items such as clothing and entertainment.

The survey also shows that young people in Northern Ireland this year received less in gifts than in the previous four years (£229 this year compared to £279 on average in the years 2007-10).

According to the survey, young people also saved more of their communion money this year than they did in the previous four years (37% this year compared with 31% on average in the years 2007-2010).

Stephen Cruise, Ulster Bank’s Managing Director of Branches, Private Banking and Advice in Northern Ireland, says: “This is an exciting time for both children and families and in many cases is the first time children will face the real choice of “keep” or “spend” therefore it is encouraging that the findings suggest young people are saving a higher proportion of the money they have received in gifts this year compared to the average for the previous years. Clearly, we think it is important that young people learn to save and get into the savings habit from a young age. This will help equip them to deal with financial decisions in a responsible way throughout their lives.”

Ulster Bank offers a range of savings accounts suitable for parents to save for their children’s’ futures. From instant access accounts such as the Cash ISA Plus and Loyalty Saver accounts, to regular savings plans such as the Special Interest Deposit Account, through to medium and long terms savings plan which can be discussed at any Ulster Bank branch.

Parents interested in opening a savings account for their children can call into any one of Ulster Bank’s 90 branches (26 of which are now open on Saturday 10am – 1pm) and open a urfirst account with as little as £5. Children will also receive the iconic Henri Hippo moneybox to help them continue to save small amounts together with regular updates and goodies from Henri throughout the year.

Parents can fill out an R85 form when opening their child's account and their child won't get taxed on the interest.

Further information about Ulster Bank savings accounts for young people are available at: http://www.ulsterbank.co.uk/ni/personal/saving/youth/ur-first.ashx

Northern Rock launches second annual branch contest for kids

Fri, 12 Aug 2011 10:38:58 GMT

Northern Rock is helping to keep kids entertained this summer holidays by holding a nationwide competition.

The contest, which started on the first day of the school break, focuses on the theme of superheroes in an effort to spark kids' imaginations, and all of Northern Rock's 74 branches are taking part.

For a chance at winning £100 in High Street vouchers, children have the option to draw their own superhero, colour in a template design supplied by Northern Rock, or dress up as a superhero and send a photograph of themselves in costume to their local branch.

The competition is split into three age categories - up to four years, five to nine years and ten to 16 years of age. An independent representative at each branch will choose a winner from each age group, each of whom will win a High Street voucher worth £25. All branch winners will then progress to the national judging and their chance to win a High Street voucher worth £100.

To enter, interested parties can visit any of Northern Rock's branches and pick up an entry form, which can either be completed in branch or taken away and returned no later than 3rd September 2011. All winners will be notified by 24 October 2011. Full terms and conditions are available in branches.

Launched in April last year, the Little Rock's top-paying access account at 3.00% gross* pa/AER**, is available through Northern Rock's branch network, and by post, to customers aged under 16. It must be opened with an appropriate adult named on the account as a trustee.

Little Rock can be opened by cash, cheque or by transfer from an existing Northern Rock account. There is a maximum balance limit of £10,000, and all trustees are required to sign for any withdrawals. All withdrawals are notice free.

ENDS

Notes to Editors:
*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless you are eligible to receive interest gross and submit the required registration form to us.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.
***NET is the annual rate of interest payable after the deduction of basic rate tax (currently 20%).

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts and a cash isa to customers in the UK and Ireland and mortgages to UK borrowers. It also offers fixed rate bonds. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

The BITC Awards identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace. The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK’s leading awards for responsible business practice.

Business in the Community stands for responsible business.

Northern Rock highly commended for responsible business practice

Mon, 11 Jul 2011 11:26:39 GMT

Northern Rock was given a prestigious national award from The Prince of Wales' Business in the Community (BITC) charity, for its work to help tackle financial exclusion.

Last month, BITC awarded Northern Rock with a 'Big Tick' for its on-going project to help rebrand, relaunch and support Bridges Community Bank, formerly South Tyneside Credit Union. Judges were so impressed with the nomination that Northern Rock was also selected as one of only two North East organisations to be shortlisted for the coveted title of 'Example of Excellence' in their respective categories.

Last night, representatives from the bank including Executive Chairman Ron Sandler, were highly commended in BITC's 'Building Stronger Communities' for 2011, at a gala event sponsored by Unilever at The Royal Albert Hall.

The national 'Big Tick' award is the first level of award available to entrants of the national BITC Awards for Excellence, which recognises inspirational programmes that have a positive impact on the community, the environment or wider society. Northern Rock was one of six companies to achieve it this year before being highly commended in the category of the UK's Example of Excellence in Building Stronger Communities.

Northern Rock's contribution involved a team of employee volunteers skilled in a number of disciplines helping Bridges Your Community Bank. It continues to support Bridges as part of its flagship community programme which focuses on assisting those in financial difficulty.

Mr Sandler said: "We are honoured to have received this additional commendation, and to have been shortlisted as Business in the Community's Example of Excellence 2011, for our important work in the local community, in this instance for our work with Bridges Your Community Bank.

"Our Big Tick Award is proudly displayed in Northern Rock's head office so that our colleagues and visitors alike can see what has been achieved due to the hard work and dedication of our employees. I look forward to adding this additional tribute and hope it acts as a source of real inspiration and pride for everyone connected with Northern Rock."

Stephen Howard, Chief Executive of Business in the Community said: "I congratulate Northern Rock on achieving its Big Tick. It is a challenging time for business, but this is a sign that companies are not losing their focus and are transforming their businesses to make a positive impact on people and society; and are prepared to lead by example. That's what Business in the Community's Awards for Excellence is all about - celebrating responsible business, the leadership that makes it happen and the benefits to the business and society of doing so.

"Communities and consumers need to see that businesses are proactive, visible and engaged on the big issues of the day, as Northern Rock has demonstrated."

ENDS

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts, as well as a cash isa and fixed rate bonds, to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

About Business in the Community:
Business in the Community's Awards for Excellence identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace.

The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK's leading awards for responsible business practice. BITC received over 370 entries for the national Awards for Excellence.

Business in the Community stands for responsible business - it is a business-led charity with a growing membership of 850 companies, from large multinational household names to small local businesses and public sector organisations.

Confused.com launches new savings site

Tue, 14 Jun 2011 14:59:13 GMT

Confused.com has announced the launch of its new online savings site to help savers compare interest rates, find the most competitive ISAs and understand some of the jargon often found in financial documents.

Confused.com has also launched a new redesign of the savings section of the site to help users navigate the page easily and quickly find the best deal on their savings accounts.

With the brands such as Nationwide, Santander and ING on board, Confused.com's savings offering is free and independent. Savers can quickly and easily compare different types of savings accounts, from simple instant access accounts to tax free ISAs and fixed rate bonds. This service complements the existing loans, mortgages and financial services products already compared by Confused.com, which compare deals from the major high street and online financial service providers.

Chris Griffiths, head of savings at Confused.com said: "With interest rates being low and inflation high, it's important to check that your savings are in a competitive account otherwise you could be missing out on improving your interest earnings. We aim to give savers more information about the different accounts available, as well as information on each specific account and its provider - ultimately to allow our customers to quickly and easily compare a variety of savings products to find the best one for their needs."

Confused.com has provided information for customers about savings and how to switch their accounts on its savings account page on the website.

About Confused.com:
Confused.com is one of the UK's biggest and most popular price comparison services. Specialist comparison includes savings accounts and other accounts catered for include instant access accounts, fixed rate bonds. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.

Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com's service is based on the most up-to-date information provided by UK suppliers and industry regulators. Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.

Northern Rock launches new issue of its easy access online saver

Wed, 01 Jun 2011 16:34:21 GMT

Northern Rock has announced the launch of the latest issue of its easy access savings account for customers wishing to manage their funds exclusively online. E-Saver (Issue 6) is available now and pays 2.75% gross* pa/AER**.

The new Northern Rock savings account can be opened with an initial investment of £1 and E-Saver (Issue 6) allows subsequent deposits from as little as £1. The account allows a balance of up to £100,000 and account holders can choose to have their interest paid either annually on 11 March or monthly (on 10th of the month. Monthly gross* is 2.72% pa variable).

Withdrawals from E-Saver (Issue 6) can be made via a nominated bank or building society account without notice or charge (there is a £35 fee if customers choose to transfer via CHAPS). The minimum withdrawal is £1 for BACS transfers and £250 for withdrawals by CHAPS. Customers are able to view their transaction history online.

Additional deposits can be made up to the maximum balance of £100,000 by electronic transfer. E-Saver (Issue 6) is strictly a limited issue and will be withdrawn without notice.

This information is directed at professionals only and should not be relied upon by any other persons. It is not a financial promotion and should not be displayed as such.

ENDS

Notes to Editors
*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless applicant is eligible to receive interest gross and submits the required registration form
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year

About Northern Rock
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgages lender from 1 January 2010. It offers ISAs and other savings accounts to customers in the UK and Ireland and mortgage products to UK borrowers along with a simple online mortgage calculator. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

Standard Life reveals that one in six don't plan their future finances

Fri, 20 May 2011 14:13:40 GMT

Standard Life has found that people in the UK live for the moment rather than the long term, with more than one in six (17%) failing to plan their finances at all, according to recent research from the savings and investments company.

The research, which looks into the UK's fascination with living for now, finds that almost half of Brits (45%) only plan their finances just a year ahead, or less, with only a fifth of them (22%) planning up to five years into the future. Alarmingly, only one in six people (16%) plan more than six years ahead which underlines the real necessity for the UK to start addressing their long term savings plan. Doing this is critical if they are to be financially secure, achieve their future goals and live the lifestyle they want.

Of the UK regions, it was found that those from London were the top financial planners, with one in six (17%) planning six years or more ahead. In contrast, those from Scotland came out as the least likely to make long term financial plans, with only one in ten (11%) planning more than six years ahead.

To find out more about the nation's attitudes to planning for the future, Standard Life is launching a UK-wide poll and prize draw and linking up with boutique hotel specialist i-escape.com. Entrants have to vote on which prize they would prefer; a short break this year with accommodation from i-escape.com, or a holiday of a lifetime in five years. The results will show whether people in the UK favour instant gratification or greater long term rewards. This issue of desiring instant gratification presents an on-going challenge for the UK because people are living longer and their financial security cannot be guaranteed. It represents a huge challenge for providers and advisers who are keen to help consumers plan ahead so they can look to the future with confidence and optimism.

Bruce Kelsall, group and UK marketing director at Standard Life, said: "The growth in our ageing population has created a dramatic need to shift from a culture of spending to one of saving. People are completely comfortable making financial plans for a summer holiday; planning and investing in your future is no different. You may have to finance your lifestyle up to the age of 90 or even longer and while planning for this eventuality is essential, it needn't be stressful. Even the smallest actions now can have a dramatic effect on your long term finances."

Notes to Editors:

About Standard Life:
Standard Life is a leading long term savings and investments company headquartered in Edinburgh and operating internationally. Established in 1825, Standard Life provides life assurance, annuities, savings products such as an ISA, investment funds, tax efficiencies, pensions including self-invested personal pensions (SIPP) company pensions and employer pensions, and investment management to around 6 million customers worldwide.

Standard Life also offers finance tools to help with things like pension planning.

All figures, are from research carried out for Standard Life by YouGov. Total sample size was 2057 adults in the UK. Fieldwork was undertaken between 23-25 March 2011. The survey was carried out online.

Standard Life has linked up with boutique hotel specialist i-escape.com to provide accommodation for the short break prize. If that's what the prize-winner has voted for, they will be able to choose from 1300 unique places to stay on the i-escape.com site.

The poll and prize draw is live and can be entered by visiting independent.co.uk/standardlife.

Northern Rock plc launches new savings website

Tue, 22 Mar 2011 11:33:35 GMT

Northern Rock plc has launched a new interactive savings website to make it easier for customers to find a Northern Rock savings product from the competitive range available.

The new savings website follows the introduction of Northern Rock's award-winning Mortgages website, which was launched in April 2010.

The new site offers helpful advice and practical information, as well as full details on Northern Rock's savings products.

For those customers thinking about investing their savings, at-a-glance guides are available to help them choose which savings product, such as savings accounts or an ISA; best suits their needs; whether they're new to Northern Rock or an existing Northern Rock customer. For those customers who are not sure which savings product they wish to use there is an in depth learning section explaining what Northern Rock's products are all about, and offering helpful advice and practical information. Customers will also be able to make use of a budget planner to help them plan their finances.

For those looking more closely into applying for a savings product, such as a Cash ISA, the new website contains information about Northern Rock's entire suite of savings accounts and a selector tool to help narrow down and filter their selection as well as a range of tools which help customers cut through the jargon. Customers will also have the option of being able to use a product calculator for each of Northern Rock's products to help work out their estimated return on investment.

Northern Rock has also made it easier for its existing customers to find their existing accounts and any supporting information they might need to manage them.

Customers can now select a suitable savings product, which they can save and come back to at a later date, or begin their application online. Or if they feel they need further information, customers can call the dedicated Northern Rock savings team at their UK based contact centre to find out more.

Andy Tate, customer and commercial director at Northern Rock said: "The new website is a fantastic tool, developed for our customers, with the aim of improving the whole process of evaluating and applying for a savings product.

"Research has shown that 66% of people looking for a savings product don't finalise opening an account for a number of reasons, such as not having a working printer or not posting their application.

"We've listened to our customers to find out what they are looking for on their savings journey, whether it be browsing or buying, and have created a platform where they can search for savings products based on their individual circumstances.

"We feel the new savings website will significantly improve the savings journey for our customers."

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland and mortgages to UK borrowers. The Northern Rock website also offers a mortgages calculator, which allows customers to easily find the mortgage that best suits their needs. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

Confused.com finds that Brits make savings with no specific goal in mind

Thu, 24 Feb 2011 16:58:10 GMT

Confused.com has revealed that as a nation Brits are saving for a rainy day rather than towards any particular goal according to new research conducted by the comparison site.

Confused.com found that of the 80% of Brit's who save each month, nearly a quarter (24%) don't have a specific focus, whilst one fifth (22%) are saving for the long term and retirement and another 20% are saving for a deposit on a home. One percent admitted they're saving to leave their partner.

Demographically, there are some other interesting findings. More men (8%) are saving for a new car than women (6%), with more people saving for a car in Wales (14%) than any other region. House deposits are the top savings goals in London (26%) and the South West (29%), and for 18-24 year olds in the UK.

The North East has more savings being earmarked for weddings than any other region (8%) and in Northern Ireland the focus is on the long term, with one in three (33%) saving for retirement, with 42% of 45-54 year olds in the UK saying retirement is their main goal.

By age, those aged 35-44 are saving to leave their partner (2%) more than any other generation and by region, more people in London are saving to leave their partner (2%) and for plastic surgery (2%) than any other region.

Chris Griffiths, head of savings at Confused.com, said: "When you're struggling to get into a savings habit having a clear goal can make things easier. It's a good idea to earmark some of your savings for short to medium term goals and some for the long term. Rewarding yourself with a small treat when you reach a certain goal can make it feel much more worthwhile, and some new clothes, a weekend away or a new gadget will feel much valued when you've saved hard to get them instead of putting them on the plastic."

About Confused.com:
Confused.com is one of the UK's biggest and most popular price comparison services. Launched in 2002, it generates over two million quotes per month. Initially providing quotes for car insurance, it has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, breakdown cover and energy and electricity prices, as well as financial services products including credit cards, ISAs, mortgages and life insurance quotes.

Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding great deals for them on a wide-range of insurance products, financial services, utilities and more. Confused.com's service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Northern Rock launches market-leading instant access branch saver

Thu, 10 Feb 2011 09:55:56 GMT

Northern Rock has launched a new issue of its instant access savings account designed for savers who wish to operate their account via a branch.

The Branch Saver (Issue 4) savings accounts will pay a market-leading annual interest rate of 2.05% gross*/AER** pa variable. Alternatively, customers may wish to opt for the monthly interest rate of 2.03% gross* variable (2.05% AER**).

The account can be opened and operated through Northern Rock branches with a minimum opening balance of £1. Additional deposits can be made up to the maximum balance of £250,000. Only one account per customer per issue is allowed.

Interest can be paid annually on 31 July. Alternatively, interest can be paid monthly on the last day of the month (available first business day of the following month or three days following this if the funds are sent via BACS to an external account).

Unlimited, charge-free withdrawals and transfers are permitted (there is a £35 fee for transfers and withdrawals by CHAPS).

Northern Rock has a network of 74 branches across the UK. A branch locator is available on Northern Rock's website.

Please note:
This information is directed at professionals only and should not be relied upon by any other persons. It is not a financial promotion and should not be displayed as such.

- ENDS -

Notes to Editors:

* Gross is the rate of interest paid to eligible non-taxpayers without deduction of tax. Interest will be paid net of tax unless account holder is eligible to receive interest gross and submit the required registration form to us.
** AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers a range of savings accounts to customers in the UK and Ireland and mortgage products to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

Northern Rock plc - Registered in England and Wales (Company No. 6952311).
Registered Office: Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL.
Authorised and regulated by the Financial Services Authority.

Northern Rock launches another market leading online savings account

Fri, 10 Dec 2010 16:57:41 GMT

Northern Rock has added a new online easy access savings account to its range, e-saver (Issue 4). The account pays 3.00% gross* per annum for deposits from £10,000 to £100,000.

E-saver (Issue 4) includes a bonus of 2.00% gross for the first 12 months from opening. Account holders can choose to have their interest paid either annually or month (monthly AER** is 2.74%).

This product compliments Northern Rock existing online savings offer, e-Saver (Issue 3), which pays a flat 2.50% gross without any introductory bonus on balances of only £1.

Withdrawals from E-saver (Issue 4) can be made via a nominated bank or building society account without notice or charge (there is a £35 fee if customers choose to transfer via CHAPS). The minimum withdrawal is £1 for BACS transfers and £250 for withdrawals by CHAPS. Customers are able to view their transaction history online.

Additional savings deposits can be made up to the maximum balance of £100,000 by electronic transfer from other bank accounts, a transfer from other Northern Rock accounts or by cheque. E-saver (Issue 4) is strictly a limited issue and will be withdrawn without notice.

Where the balance falls below £10,000, interest will be earned at the prevailing basic savings rate, currently 0.10% gross p.a.

Full product details can also be found at www.northernrock.co.uk.

ENDS

Notes to Editors:
*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless customers are eligible to receive interest gross and submit the required registration form to Northern Rock.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

The new E saver issue 4 interest rate is effective from 9th December 2010 with a maximum balance per account of £100,000 and minimum of £10,000.
About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland and mortgage products to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

Northern Rock plc - Registered in England and Wales (Company No. 6952311).
Authorised and regulated by the Financial Services Authority.

AEGON's Thoresen urges Government to cast off legacy of 'piecemeal approach' to savings reform

Thu, 23 Sep 2010 11:10:39 GMT

AEGON UK chief executive, Otto Thoresen, is today urging the Coalition Government to turn its back on its predecessor's piecemeal approach to pension and saving reform and carry out a holistic review of what motivates people to start saving and keep on saving.

Speaking at a Fringe meeting at the Liberal Democrats party conference, alongside pensions minister Steve Webb MP, Thoresen will call on the Government to do more to create a sustainable savings culture in the UK.

AEGON believes the Government has already made significant progress in reviewing some of the urgent aspects of pensions legislation, such as proposals for restricting higher rate tax relief and for automatic enrolment into pension schemes. However with additional reviews of the 'age 75' annuitisation rule and the default retirement age Thoresen believes the Government risks falling into the same trap as the previous Government by perpetuating a piecemeal approach to pension legislation.

Thoresen will warn that this type of approach undermines saving as it gives people the impression that the goalposts can be constantly moved. Instead he will call on the Government to harness the momentum for change by conducting a thorough review of what motivates people to start, and keep on, saving.

Thoresen will call on the Government to:

* re-examine the way financial incentives for saving and investment - such as tax relief for pension contributions and tax breaks for ISAs and investment in domestic property - fit together.
* consider the behavioural aspects of how people approach financial decision making. This can be harnessed, for example using automatic enrolment to harness the power of inertia. But at other times people's built-in biases and prejudices need to be overcome to help them achieve better financial outcomes.
* urgently look again at the need to develop different advice models. AEGON is concerned that the financial landscape is getting more complicated while the Retail Distribution Review threatens to limit access to advice to fewer people.

Otto Thoresen says:

'The UK faces huge challenges in dealing with the demands of an ageing population and creating the groundwork for a sustainable savings culture. The Coalition Government and the wider population are showing increasing appetite to tackle these challenges but we must go about it in the right way.

'We have a unique opportunity to harness the momentum for change and make a real difference to people's financial security. But we can only do this by ending our piecemeal approach to savings legislation. We must take a fresh look at what financial incentives and behavioural aspects encourage people to save, and make sure good financial advice is there for everyone who needs it.'
Notes to editors

* Otto Thoresen is speaking at an AEGON sponsored meeting at the Liberal Democrats party conference – Saving Britain: Will the UK ever achieve a savings culture? – organised in conjunction with Social Market Foundation. Other speakers are Steve Webb MP, Maggie Craig (ABI), Norma Cohen (FT) and James Lloyd (SMF).
* In the UK AEGON offers pensions, life insurance, asset management and financial advice to around two million customers. AEGON UK has assets under administration of £53.6 billion and employs approximately 4,000 staff in its life and pensions business, of which 2,400 are based in Edinburgh.
* As an international life insurance, pension and investment company based in The Hague, AEGON has approximately 28 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON's revenue generating investments totalled EUR 409 billion at 30 June 2010.

For further information, pleace contact:

Margaret Robertson
Press Relations Manager
T. 0131 549 6798 | M. 07740 897527

AEGON Welcomes Speedy Review of Automatic Enrolment

Thu, 24 Jun 2010 16:49:01 GMT

AEGON welcomes today’s announcement by the Department of Work and Pensions of a ‘thorough and speedy review’ of automatic enrolment into workplace pensions. AEGON says the terms of reference for the review mirror the calls made in its Pensions Manifesto published in the run up to the election.

AEGON suggests the speed of the review is particularly welcome as employers and providers need time to prepare for the reforms to avoid further slippage of the 2012 timetable.

The company is also encouraged by Steve Webb’s comment that the review is designed ‘to make sure that it pays to save’.

AEGON has repeatedly argued that concerns about the impact of means testing on pension savings must be addressed if the aim of pensions reform, to get more people saving more money for retirement, is to succeed.

AEGON has previously set out proposals to remove the groups most at risk of losing out through means testing in retirement by restricting the size of the automatic enrolment pool. AEGON proposes that:

· the automatic enrolment trigger should be doubled from £5,035 to around £10,000
· the upper age limit should be reduced to 55
AEGON also suggests that the burden on small businesses and the overall costs of the reforms could be reduced by exempting businesses with less than five employees, at least at outset. AEGON encourages the DWP to look closely at ways to simplify responsibilities for all employers to make it easier for them to implement the reforms.

Kate Smith, pensions development manager, said:

“AEGON has long argued that more needs to be done to reduce concerns about the impact on hard earned savings of means testing in retirement. Removing the most vulnerable groups from automatic enrolment would be a key step in the right direction. That’s not to say these people can’t join if they want, rather the default should be set so they would have to choose to opt in.

“It’s encouraging that the government is looking again at the auto enrolment criteria and plans a speedy review. Employers and providers need time to prepare if the timetable isn’t to slip further and we need to find ways to make it easier for employers to take on their new responsibilities. We look forward to working with the DWP to get a workable solution.”

-Ends-

For further information:
Margaret Robertson

Tel: 0131 549 6798

Mobile: 07740 897527

Kate Smith

Pensions Development Manager

Tel: 0131 549 6445

Notes to editors

· Details of the DWP review can be found at www.dwp.gov.uk/policy/pensions-reform/workplace-pension-reforms
· AEGON published it’s suggestions for a review of the automatic enrolment criteria in its Pensions Manifesto: The Pensions Crunch – proposals for change, in April 2010.

AIFA and AEGON call for action to rebuild Britain’s savings culture

Thu, 27 May 2010 11:46:26 GMT

UK has the second lowest savings rate of all OECD countries1 with 13 million people in the UK saving inadequately or not saving at all2

The Association of Independent Financial Advisers (AIFA), working with AEGON UK, the leading life assurance and pensions company, urge the new Government to take steps to rebuild Britain’s savings culture.

In a joint White Paper discussion document published today, entitled ‘Saving Britain’, the organisations outline eight practical measures the new Government could implement quickly, using current technology, infrastructure and legislation, to build a new UK savings culture.

With 13 million people in the UK saving inadequately or not saving at all, and the UK having the second lowest saving rate of all OECD countries, the White Paper argues that building a savings culture is now urgent. Saving can bring financial independence and peace of mind to individuals and families, free up scarce resources for the Exchequer and bring benefits to the economy in terms of more capital for investment. An economy that saves more is better balanced and more resilient in the face of future economic shocks.

To create a new savings culture, AEGON and AIFA have presented eight measures that the Government could take now, including:

Making saving easy by introducing the facility for people to ask for “Save back’ instead of ‘cash back’ - using existing infrastructure to allow people to save at almost any time and at any location.

Build the foundation of a savings culture among school children through introducing school savings clubs and more demanding financial education targets.

Create savings networks within the workplace or other groups such as extended family, friends or those with a common savings goal to reinforce positive attitudes to saving and provide ‘weight watchers-style’ peer support and pressure to save.

Reform regulation to boost the availability of professional and impartial financial advice and information.

The White Paper argues many of these proposals can be implemented quickly and will begin to lay the foundations for a sustainable savings culture and calls on the new Government to take decisive action now.

Chris Cummings, director general, AIFA says:

“Given the current economic challenges, we believe it is vital the new Government acts decisively to restore a savings culture in the UK. Individually, and as a nation, we need to rediscover thrift and true prudence. While politicians of all parties agree that saving is a good thing, no one has set out exactly how they would encourage it.

“This White Paper therefore brings fresh thinking to the debate and sets out a policy approach based on how real people think and behave. We must ensure that people have the knowledge and confidence to save for their financial future. Otherwise, as a society, we will all pay a heavy price.”

Francis McGee, head of corporate affairs, AEGON UK adds:

“Previous attempts to boost saving in Britain have focused on very conventional approaches like tax breaks and product regulation. I don’t think these can work on their own. A savings culture is built on attitudes and behaviour. Understanding how people naturally think and interact with one another is the key to a new, inclusive, savings society.

“Simple measures such as developing ‘save back’ facilities alongside existing ‘cash back’, and encouraging savings networks in the work place could create the right environment for

M&S Money launches new flexi cash ISA option

Wed, 10 Feb 2010 17:16:10 GMT

M&S Money has announced the launch if its new flexi cash ISA option, offering a variable rate of 2.65% AER/tax-free*. This includes a bonus rate of 1.25% for 18 months from initial deposit.

Research commissioned by M&S Money** revealed that people are now more concerned about easy access to their savings (53% compared to 22% in 2009) and are looking for interest rates with a bonus, as well as fixed rates. When asked what an important factor was to them when putting money into savings, 56% of respondents wanted a savings provider they could trust, compared to 34% in 2009.

The new Flexi Cash ISA requires a minimum deposit of £100 to be made, either paid in one lump sum or £25 by monthly direct debit, up to the Cash ISA allowance of £3,600 or £5,100 per tax year. Transfers from other ISA providers are also allowed under the Flexi Cash ISA.

Flexi Cash ISA is one of the options customers can use within the M&S Cash ISA account to divide their tax free savings allowance between variable and fixed rates. From April 2010, the new limit for Cash ISA savings will be £5,100 per tax year for everyone aged 16 and over. This new limit will already exist for those aged 50 and over from early April 2010.

As an example, with the M&S Cash ISA, a customer would be able to save £2,550 in the variable Flexi Cash ISA option, and the remaining £2,550 in one of the fixed rate savings options available.

Colin Kersley, Chief Executive of M&S Money, commented: "Our research shows that more people than last year are looking for a savings provider they can trust. At M&S Money we have been providing a safe home for customers' savings for many years, and the company itself is 25 years old this year.

"We are also part of HSBC, one of the world's largest banking and financial services organisations, and are continuing to develop our savings range. Cash savings are protected under the UK Financial Services Compensation Scheme and the first £50,000 of our customers' savings are 100% guaranteed."

Notes to Editors:
*AER is the Annual Equivalent Rate and illustrates what the rate of interest would be if interest was paid and compounded on an annual basis. Tax free means the rate of interest where interest is exempt from income tax. Interest will be credited to your account annually.
**Research carried out on behalf of M&S Money by YouGov 26th - 28th January 2010, among 2,044 people aged 18 and over. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

About M&S Money:
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc, making 2010 the company's 25th anniversary. The company is a top-ten credit card provider and the second largest travel money retailer in the UK. M&S Money also offers a range of insurance cover, including home insurance and car insurance , as well as loans, savings and investment products.

In November 2004, Marks & Spencer sold M&S Money to HSBC. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,422 billion at 30 June 2009, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the

National Savings and Investments reports Britons more financially aware

Wed, 26 Aug 2009 15:19:20 GMT

NS&I has revealed new research that shows nearly two-thirds (63%) of the population are more aware of their finances and are making an increased effort to look after their accounts as a result of the credit crunch,

According to the new research released by NS&I (National Savings and Investments), almost half (48%) of the people who are focusing more attention on their finances have stated now that they know exactly how much money they have in all of their accounts. A further third (33%) know roughly how much money they have in their bank account and savings account, give or take £50.

Whether people know exactly what their financial situation is seems to be affected by both age and gender. Research shows that older age groups are more likely to be sure of their financial state of affairs, with 60% of over 65-year-olds sure of the exact amounts in their current and savings accounts, compared to 38% of the 16-24 age group and 41% of 25–34 year-olds. Women are more likely to know their precise financial circumstances, with half (50%) sure of exact amounts compared to more than two fifths (41%) of men.

The NS&I research also showed that married and co-habiting people are more money-savvy with 45% confident of the figures compared to 39% of singletons, perhaps as the more careful female attitude rubs off on their partners. In fact, more than a quarter (26%) of men state that their partner looks after their money, while only 19% of women put the financial reins in their partner's hands. It seems that often when relationships break up a lot of attention is focused on assets, perhaps this explains why 56% of those divorced, widowed or separated know exactly what money they have in their accounts. Interestingly, children seem to have a negative effect on people's awareness; 41% people who have children are confident of their exact financial circumstances, compared to 48% of those without.

Dax Harkins, senior savings strategist at NS&I, explained: "To be in control of your finances it's really important to keep track of your money and to make sure that it is invested in a savings account which suits your individual needs. Setting aside a few minutes a week is all it takes to review your money situation. From this point you can assess your incomings and outgoings, identify opportunities for savings and make your money work as hard for you as possible."

There are, of course, those people that choose to ignore keeping track of their finances. More than a third of people (36%) care just a little about their finances and do just enough to get by. One-fifth (20%) of those surveyed feel that so long as they've got regular money coming into their current account they don't need to worry about it too much and just under a fifth (17%) ignore their finances and hope they will be okay rather than spending time worrying. Nearly a fifth (19%) of the population stated that they don't have time to manage their finances properly.

Notes to Editors
*The survey, which questioned people about their financial habits, was carried about by TNS Global Market Research in June 2009 among 1002 GB adults aged 16+.

About NS&I
NS&I is one of the UK's largest financial providers with almost 27 million customers and over £94 billion invested. It is best known for Premium Bonds, but also offers Inflation-Beating Savings bonds, Guaranteed Growth Bonds and Children's Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury.

For more information on NS&I’s involvement with the RHS and the Grow Your Own campaign,

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