One of the rabbits out of George Osborne's hat in last week's Budget was easily the Pensioner Bond, set to be offered through NS&I, a savings product that could see those aged 65+ generating much better returns for their money.
Considering that a lot of pensioners rely on their savings to provide a meaningful income it's certainly a decision to be applauded. But, just what is the Pensioner Bond and how will it work?
We've compiled a few things you need to know about it so you're ready for its launch.
It's a great boost for pensioners who have been stuck with paltry interest rates over the last few years, and considering the rates are set to beat alternatives on the market it means pensioners can generate a meaningful return once again. It's even hoped that the new bonds will mean other banks and building societies want to up their game as they see savers take their money and head for NS&I, so it could be good for the savings market as a whole.
Check out the best easy access accounts that can offer a part-time home for your money, and then all you've got to do is wait for January!
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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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