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Press release

NS&I ANNOUNCES RE-TENDERING OF IFA SERVICE TO PREMIUM BOND WINNERS

29 October 2007

NS&I (National Savings and Investments) has announced it is re-tendering for the IFA service offered to its Premium Bond jackpot 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.”

ENDS

Notes to Editors

1. 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.

Media team
NS&I has a number of spokespeople available for interviews and our experienced radio team is available via our ISDN line: 020 7602 4522.

The numbers below are for media use only. Customers wishing to contact NS&I can find details here.

Gill Stephens		020 7348 9449
		gill.stephens@nsandi.com
Iman Asante		020 7348 9301
		iman.asante@nsandi.com
Angela Mason		020 7348 9433
		angela.mason@nsandi.com
ISDN for interviews		020 7602 4522
Out of hours		All numbers above diverted to staffed mobile phones

 

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