{"id":233894,"date":"2025-05-10T03:27:21","date_gmt":"2025-05-10T03:27:21","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/retirement-investing-today-nsi-loses-some-lustre\/"},"modified":"2025-05-10T03:27:21","modified_gmt":"2025-05-10T03:27:21","slug":"retirement-investing-today-nsi-loses-some-lustre","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=233894","title":{"rendered":"Retirement Investing Today: NS&I loses some lustre"},"content":{"rendered":"


\n<\/p>\n

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\n<\/a>In recent weeks there appeared to be a glimmer of hope appearing that I might be able to get a little more interest on my cash and cash-like (NS&I Index Linked Savings Certificates) holdings.\u00a0 This was of interest to me as I currently have in excess of \u00a3300,000 in these products in readiness for a home purchase and to help me live off dividends only in my soon to be early retirement.<\/p>\n

It started with Goldman Sachs entering the UK savings account market with their Marcus account paying an annualised 1.5%.\u00a0 Nothing to get excited about given, that after I pay my additional rate tax of 45%, that reduces to 0.83% meaning in inflation adjusted terms I\u2019m still going backwards at a rate of knots with the RPI currently sitting at 3.3%.\u00a0 Even for those with a basic rate tax of 20% this account still sees you going backwards in real terms, both before or after you’ve used your \u00a31,000 basic rate tax free personal savings allowance, as you\u2019ll only end up with 1.5% (within the tax free personal savings allowance) or 1.2%\u00a0 (post the tax free savings allowance) in your pocket.\u00a0 Still better than a poke in the eye with a pointy stick as it puts an extra \u00a3222 into my pocket annually when compared to the savings product I ditched.<\/p>\n

Then Charter Savings Bank popped in with a slightly lower annualised 1.4%.\u00a0 Again, nothing to write home about, but better than what I did have meaning an extra \u00a3153 in my pocket annually.<\/p>\n

Even RateSetter P2P rates have been picking up recently.\u00a0 I\u2019m now predominantly out of the 3 year market with most of my money in the 1 year.\u00a0 I\u2019ll soon start moving out of that as well given I\u2019ll be likely be home buying within the next 12 months.\u00a0 Since I started investing with RateSetter in early 2014 I\u2019ve achieved an annualised 4.1% and today the money I have in the 1 year market is achieving 4.0%.\u00a0 Looking at the last 1 year loans matched and today that\u2019s ticked up to 4.9% so some benefits here as well.<\/p>\n

At that rate a 45% tax payer is still going backwards in RPI inflation adjusted terms though as the after tax rate is still only 2.7% but for those 20% tax payers out there you\u2019re now at least ahead a little with an after tax rate of 4.9% (within the tax free personal savings allowance) or 3.9% (post the tax free savings allowance).\u00a0 Of course it should not be forgotten that the risk profile is very different between P2P and a savings account.\u00a0 If Ratesetter P2P sounds of interest I still have a referral link here<\/a>.\u00a0 Sign up from that link and RateSetter will pay you \u00a3100 (and me \u00a350) if you invest \u00a31,000 with them for a year.<\/p>\n

So far so good but then NS&I enters from stage right<\/a>.\u00a0 I first started buying NS&I Index Linked Savings Certificates back in late 2007 where you could get RPI + 1.35% on your money.\u00a0 Over time that has been gradually eroded to effectively RPI.\u00a0 For me though they were still very attractive because they aren\u2019t taxed meaning I\u2019m currently getting 3.3% annually on any that mature which means I\u2019m at least keeping pace with RPI inflation.\u00a0 That has all now changed with the government changing the index linking from RPI to CPI for any that mature and are reinvested from May 2019.\u00a0 If inflation remains unchanged that means the rate being paid reduces from 3.3% (RPI) to 2.4% (CPI) meaning I\u2019m \u00a31,023 worse off annually.\u00a0 Even so, sadly, 2.4% is still better than I can get on my cash anywhere else after tax with the added bonus that they are about as close to risk free as it\u2019s possible to get today.<\/p>\n

The end result of all of the above is that just when I thought I was going to be a little better off I\u2019m now effectively worse off by \u00a3648 annually.\u00a0 Oh well, at least the sun is shining today and for us it\u2019s soon also about to get a little warmer.\u00a0 Life\u2019s still good.<\/p>\n

As always DYOR.<\/p>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

In recent weeks there appeared to be a glimmer of hope appearing that I might be able to get a little more interest on my cash and cash-like (NS&I Index Linked Savings Certificates) holdings.\u00a0 This was of interest to me as I currently have in excess of \u00a3300,000 in these products in readiness for a […]<\/p>\n","protected":false},"author":1,"featured_media":233895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[10906,37817,86760,65375,11077,1513],"dealstore":[],"offerexpiration":[],"class_list":["post-233894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-investing","tag-loses","tag-lustre","tag-nsi","tag-retirement","tag-today"],"yoast_head":"\nRetirement Investing Today: NS&I loses some lustre - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=233894\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retirement Investing Today: NS&I loses some lustre - 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