Today’s inflation decrease will comfort the 87 per cent of people who are concerned about the effect of inflation on their income, according to Post Office Savings1
With the 5 April deadline fast approaching, Post Office reminds savers they don’t have long left to make the most of this year’s £5,340 tax-free cash ISA allowance and that next year’s cash ISA allowance increases to £5,640.
Post Office Ltd today announced plans to transform about half of its network of 11,800 branches across the UK over the next three years as part of an overall £1.34bn investment and support programme, subject to EU State Aid clearance. The Post Office is a core part of the UK’s economic and social infrastructure – 99 per cent of the UK population lives within three miles of a Post Office branch. The investment will provide a more modern and convenient retail experience for customers, whilst maintaining the UK Post Office network at its current size.
Education and savings top the list for most children if they were given a Junior ISA (JISA) lump sum at 18 years old. However parents underestimate what their children would do with the money, according to research from Post Office Savings.* Only 16 per cent of parents say their children would save most of the money when in fact, over half of children (52 per cent) say they would be sensible and save it. Furthermore, 46 per cent of under-18 year olds say they would put the money towards their education.
The Post Office is cutting its mortgage rates by up to 1.01% on a range of its fixed rate and tracker mortgages, expanding its offering to those with larger deposits, whilst maintaining a range for first time buyers. Products are available immediately.
People in the UK are missing out on substantial savings as a result of not shopping around for home broadband. Research on behalf of Post Office shows that in total, households across the country are ignoring £1.8m of savings a year by sticking with old tariffs.
Over 12 million people (36 per cent of credit card holders) will spend the first month of 2012 relying on their credit cards simply to fund day-to-day living costs, according to the fifth annual Post Office Consumer Credit Report.
The Post Office has today (January 9th 2012) launched a new issue of its branch based Reward Saver account. The account offers a rate of 3.00% AER* variable which includes a 12 month bonus of 1.25%.Reward Saver offers flexibility to savers depending on how quickly they need to access their money. Easy access withdrawals can be made with the loss of the 30 days interest on the amount withdrawn, or penalty free, provided 30 days notice is given.
Three in four people (74%) plan to have a ‘big night in’ rather than the traditional ‘big night out’ this New Year’s Eve, according to the seventh Post Office® Home Insurance New Year survey.
Every year a combination of too much turkey and an overload of family friction are enough to send thousands of people heading online or off to their local travel agent to book an escape abroad from the Christmas blues. This year the prospect of high winds, driving rain and bouts of snow and ice for some may tip thousands more over the top.
More than half of adults in rented properties in the UK do not have contents insurance according to new survey data from Post Office Home Insurance .According to the research it’s the perceived cost of premiums which is putting renters off protecting their possessions and leaves them running the risk of footing the bill if household items are damaged or stolen.
In addition the Post Office is extending its ‘Savings Promise’ until 1st January 2013 on the following products: Instant Saver, Reward Saver, Cash ISA and Easy Saver. The Post Office is unique to the high street in promising to the match the Bank of England Base Rate percentage changes on all its branch based savings accounts.
As people hit the shops to prepare for Christmas, Post Office Home Insurance ensures its customers are protected over the festive period with a 10% increase in contents cover during December.
As winter draws close and parents face the prospect of making the school run in the dark, harassed mums and dads will need to take increasing care on the roads - not an easy task for the nearly half (48 per cent) who are frequently in a rush to get their kids in the car and leave on time, according to a survey conducted by Post Office Car Insurance.
Three in five women think it is unfashionable to wear a helmet and believe it messes up their hair (15 per cent). Men are less vain, with just 3 per cent worrying about how a helmet will make them look. Men are more likely to give in to bravado, shunning a helmet because they think they just don’t need it (30 per cent).
Christmas shoppers can again make massive savings on gift items by heading across the Atlantic to buy presents. Even though sterling has slipped 25 per cent in value since 2007 when £1 was worth $2, the annual Christmas Shopping Guide from Post Office Travel Money reveals that prices are up to 62 per cent cheaper Stateside than in London. But while New York remains the UK’s top choice for a city break¹, bargain-hunting shoppers can save even more in Boston.
Richard Norman,Director of Savings and Investments at The Post Office comment on today’s inflation decrease
“The Post Office Inflation Linked Bond offers customers a return pegged to the annual rate of RPI inflation with a fixed interest rate added on top, meaning customers can rest assured their return will keep up with inflation. Savers should check the rates of interest they are receiving in the light of this increase, and make sure that they are not losing out.”
The Post Office Junior ISA can be opened by parents and guardians on behalf of children under the age of 16 who didn’t qualify for a Child Trust Fund. There is no minimum age requirement. The Junior ISA offers a tax-efficient way to save for a child’s future by providing them with a financial head start when they reach the age of 18.
Almost four million people admit it would take being burgled to make them consider getting their possessions insured, according to new data from Post Office Home Insurance , which also revealed over eleven million people (23 per cent) do not have their home contents insured.
Sterling’s slump against the Swiss franc means that UK skiers will face higher prices in Switzerland this year – according to the fifth annual Ski Resort Report from Post Office Travel Money. But there is better news elsewhere in Europe. The pound is currently pegged at 2010 levels against the euro and Bulgarian lev¹ so bargain-hunters can keep costs to a minimum by heading to ski resorts in Bulgaria, Andorra or Slovenia, the cheapest destinations surveyed.
Royal Mail Group today announced that Neil McCausland has been appointed to the Board of Post Office Limited as the senior independent director.
Families jetting off to far flung destinations in search of sun at half term could be in for extra costs they had not bargained for, according to new Post Office Travel Money research. It found that tourist visas and taxes – payable in foreign cash – could set a family of four back as much as £145 extra on top of the holiday package price.
Half term sun-seekers will get most for their money in Spain – even though sterling buys only the same number of euros as last year, compared with 27 per cent more Turkish lira and 21 per cent more Kenyan shillings¹. Research by Post Office® Travel Money for its Half Term Holiday Costs Barometer² puts the Costa del Sol at the top of the value table for half term family trips – less than half the cost of Miami, highest-priced resort in the survey.
The Post Office has launched the third issue of its popular Inflation Linked Bond, available to customers from today until Friday 20 January 2012.