"NS&I has apologized to anyone suffering a bereavement who had not received the customer service they should expect, particularly at such a sensitive time."
"There are complaints NS&I withheld Premium Bond prizes from the families of deceased savers, with some reporting the bank delayed payments and lost track of investments."
"The NS&I is currently working through a 3bn modernisation programme which is years behind, so there appears to be some issues with potential tech or customer service problems."
"The pensions minister is likely to face questions as to whether taxpayers could end up responsible for any bill when he updates the Commons."
National Savings and Investments (NS&I) is anticipated to compensate hundreds of millions of pounds to approximately 37,000 customers due to mismanagement of bereavement claims. Complaints include withheld Premium Bond prizes and delayed payments. NS&I has apologized for inadequate customer service during sensitive times. Treasury officials are collaborating with NS&I to determine the payout amount. The organization is also facing challenges due to a modernization program that is significantly delayed, impacting customer service and technology. The pensions minister may address taxpayer liability for the payouts in the House of Commons.
Read at www.bbc.com
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