News & Insights

Is it time to dump your Premium Bonds?

It promised a unique safe haven, but… 

Premium Bonds are operated by NS&I which is treasury-owned so your capital is as safe as it gets. This safety used to be a special charm, but these days all UK regulated savings accounts are protected up to £75,000 per person, per institution, by the Financial Services Compensation Scheme. However, the maximum you can put in premium bonds is £50,000 – so the safety boon isn’t as big.

Premium Bonds are certainly not as good as they used to be, but ultimately it’s only worth re-allocating your cash if there’s something better out there.

So unless you’re extremely lucky, premium bonds earn far less than the top savings and most investments – the safest bet is to get rid of them.

The key to managing your wealth is to diversify and, if you want the potential for growth in this low interest rate environment, then the first option is to look at investing. Get in touch with Blacktower to find out more. 


Other News

Women experience large shortfall in pension contributions

Women looking at a computerA new study has highlighted the issue of the gap between women’s pension pots and those of men. The size of the difference? According to the research, by the end of her working life the average woman could potentially end up £47,000 worse off than men in terms of what’s in their pension pot.

The study, carried out by Zurich, looked at 250,000 pension plans, making it one of the largest studies of workplace savings. It looked at pension plans broken down by age, gender, and the contribution rate of employers and employees.

Read More

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