NS&I announces retendering of IFA service to Premium Bonds winners
Premium Bonds are a unique savings vehicle which offer the chance to win tax-free* prizes. Each month the Premium Bond prize draw awards two £1 million jackpots, creating twenty four millionaires each year. To enable these winners to obtain maximum benefit from their win, NS&I offers them access to an independent financial advisory service.
NS&I has begun the re-tendering process for this service by placing an advert in the Official Journal of the European Union. The successful tenderer should be FSA regulated, offer impartial advice, use a transparent fee structure and also provide a free initial consultation. The contract for offering this IFA service to winners is for three years, beginning in early 2008.
An initial pre-qualification questionnaire should be completed by IFA’s interested in applying for this contract. The questionnaire and further information on the service is available from Dorothy Fox in NS&I’s procurement department on 020 7348 9312, or Dorothy.fox@nsandi.com. The deadline for returning the questionnaire is 15 November. NS&I will subsequently invite successful applicants to officially tender for the service.
Andrea Brown, IFA Manager at NS&I commented
“This is a great opportunity for financial advisers to not only be associated with a product as iconic as Premium Bonds, but to also make a real difference to the experience of our jackpot winners. The support and independent advice offered will provide invaluable reassurance to the winner, after what may be considered a life-changing event.”
Notes to Editors
- Images of IFA Manager Andrea Brown are available on request (in JPEG format).
National Savings and Investments
NS&I, established in 1861, is a government department and an Executive Agency of the Chancellor of the Exchequer. It offers a range of savings products through a network of 14,300 Post Office branches, over the telephone, internet and post, and from 1 November 2007 Premium Bonds and Inflation-beating Savings product leaflets will be available in 400 WH Smith stores. It has 27 million customers and over £80 billion funds invested. All products offer 100% security because they are backed by HM Treasury.
Premium Bonds
NS&I’s flagship product is Premium Bonds. With a customer base of over 23 million people, not far short of half the adult population of the UK, own Premium Bonds, and the total sum invested is more than £35 billion. Each month the Premium Bonds prize draw awards two £1 million jackpots, as well as over 1.6 million other prizes worth more than £115 million. The current prize fund rate is a tax-free 4.00%p.a.