In the Budget announcement on Wednesday, 19 March 2015, the Chancellor updated the plans for NS&I over the coming year.
From 1 June 2015 the investment limit for Premium Bonds will be increased from £40,000 to £50,000, which is the second increase in a year. This gives your clients an opportunity to invest even more tax free and potentially win a big prize, or the enjoyment of receiving regular prizes.
Following the launch of the 65+ Guaranteed Growth Bonds on 15 January 2015, these will be withdrawn from sale on Friday, 15 May 2015.
Finally, and in line with the Chancellor’s announcement that ISA limits will increase, NS&I’s Direct ISA limit will increase on 6 April 2015 to £15,240. In addition, your clients can now inherit an additional ISA allowance if their spouse or civil partner dies, up to the value of their ISA at the date of death. If their spouse or civil partner died on or after 3 December 2014, they are entitled to this new allowance.
Please note that NS&I does not accept transfers from other ISAs and this will remain the case.