People keep premium bonds for decades – it seems that has caused a problempublished at 11:16 GMT
Kevin Peachey
Cost of living correspondent
For many families, premium bonds have been part of their finances for decades – the kind of product bought young and kept for decades.
The attraction has been, in part, the security of these savings. A government-owned bank will not go bust. Hence, NS&I’s popularity at times of trouble, such as the financial crisis of 2008.
It seems that customer loyalty – and the length of time some of these accounts have been held for – has led NS&I to lose track and control of some of the details.
So bereaved families, as we are hearing, have faced huge difficulties trying to access those funds.