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Author Topic: Pensioner Bonds  (Read 4448 times)

Colin Bishop

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Pensioner Bonds
« on: January 15, 2015, 10:47:31 PM »

Has anyone else tried to buy these from National Savings & Investments today?

Website has been effectively down most of the day, letting you get so far with entering details and then crashing. Earlier this evening I finally manage to fill in all the various online forms and then my card details for payment. It then went to the bank 'Verified by Visa' screen as expected and that was OK too but on exiting back to the NS&I site it crashed again with no receipt or reference details leaving me wondering whether they had got the payment or not.

15 minutes later I had a call from my bank saying that they thought my card had been compromised so they had cancelled it, blocked the payment and now I have to wait 5 days for a new one. Better safe than sorry but if only a fraction of other people applying have had the same problem then there will be a horrendous mess to clear up.

This is a Government website, they knew there would be a high demand for these bonds and they have still managed to make a complete and utter cock up of the whole thing! Somebody needs to be strung up!

Colin
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Neil

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Re: Pensioner Bonds
« Reply #1 on: January 15, 2015, 11:18:23 PM »

just about sums up the whole of this governments commitments to the public when they promised broadband for every one..........like their policies.........in operation but they don't work, {-) {-) {-) {-) {-) {-) {-) {-)
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inertia

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Re: Pensioner Bonds
« Reply #2 on: January 15, 2015, 11:20:36 PM »

I've no doubt that the implementation was "outsourced" - probably to the same clowns they always give these contracts to - with an open budget. Either that or they gave it to an in-house team comprising of an EO, two CA's and a part-time cleaner - with a budget of 1000. Cynical - moi??  :o

DM
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Colin Bishop

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Re: Pensioner Bonds
« Reply #3 on: January 15, 2015, 11:41:11 PM »

It was pretty obvious throughout the day that they were struggling as at some points the website was accessible and at other times it was blocked off. Logically what should happen in such circumstances is that once a user has a connection it should be possible to complete the transaction but what has been happening is that it has been a free for all and that you can get chopped off at the knees at any point irrespective of how far you have penetrated into the labyrinth and given up your grandfather's maiden aunt's middle name as a security check..

If I was more cynical than you Dave I would suggest that the intention has been to choke off demand for an investment that the Government is going to find it very expensive to service. Might try the phone tomorrow... 4% is gotta be worth it, even after tax....

Colin
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tobyker

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Re: Pensioner Bonds
« Reply #4 on: January 16, 2015, 12:02:23 AM »

For some reason, British governments seem totally incapable of making IT work (except for the vehicle licensing scheme which is ace!) You'd think that Govt Depts could employ poachers from the IT world to turn gamekeeper and screw contractors down.
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roycv

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Re: Pensioner Bonds
« Reply #5 on: January 16, 2015, 09:59:07 AM »

Hi Tobyker, the vehicle licensing IT system had a bad start.  I worked for the IT supply company and was friendly with the Project Manager.
He was called to a Parliamentry enquiry to account for the problems.

He took with him a stack of A4 'day books' which he filled in as progress/ problems on a daily basis.  Every time a question was put to him he referred to his notes and gave an answer.  Our company came out squeaky clean with every problem laid squarely at the governments feet.
They changed their minds so often, I do not think they realised the implications.
We refused to re-tender for the work when the contract ended.

I have dealt with government departments myself e.g. Dept Trade and Industry.  A computer upgrade to a new system.  Twenty people sitting round a table too many to make a decision!  Their end proposal was to close down for two weeks and then a gradual build up to full speed.

We were to re utilise existing peripherals so not a lot of physical work apart from installing the new computer, which had a space next to the old one.

My proposal was to do the change over during a 4 hour maintenance period and hand back the new up graded system for tea time.
This is what we did and it all worked seemlessly.  I am sure at least 10 of the people around the table had that as their star item on their own CV's afterwards!
So even before I was a Project Manager myself I have kept a 'day book'.  Worth its' weight in gold!

On one occasion I went in to work at a client's site and found a factory of 300 workers sitting idle.  The knives were out and blaming us.  I had agreed certain things with the computer manager and written them down, this would account for the situation and provide a safety net.  He had decided after I left not to do this.
Next morning I walked in, then the M.D. arrived,  the computer manager lied through his teeth, the M.D. looked at me, I opened my day book and said perhaps you should read this.
He did, the guy left the company shortly afterwards.  A new manager was appointed and it was peaceful ever after.

I still keep notes on model boat building and photos of what I am doing.  All changes to my house are photographed before and after, saves any arguments and of course interesting to look back on.
The guy I mentioned at the beginning was the only role model I ever used at work.  Our acquaintence  started when I found out he was a qualified "Yacht Master" and I was doing the course modules.
regards Roy
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inertia

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Re: Pensioner Bonds
« Reply #6 on: January 16, 2015, 10:06:39 AM »

For some reason, British governments seem totally incapable of making IT work (except for the vehicle licensing scheme which is ace!) You'd think that Govt Depts could employ poachers from the IT world to turn gamekeeper and screw contractors down.

Toby
Don't forget you're talking about HMG. My good friend Judith, who worked with me in HMC&E, was sponsored by the Department to obtain a nationally-recognised qualification as a Purchasing Manager. Just what they needed to screw down a few tenders and ferret out the rotten apples in the current round of contracts? Nope. They promptly promoted her to a HQ staff management job - with no budget.
In which we serve........ :o

Colin
Let us know how you get on. I've a 10K bond maturing next month which Liz is desperate to reinvest before I use it as the deposit on a Sunseeker or an XF Jaguar............... %)
DM
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Shipmate60

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Re: Pensioner Bonds
« Reply #7 on: January 16, 2015, 11:13:15 AM »

Dave,
Go for the XF, no contest!!!


Bob
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marinemole

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Re: Pensioner Bonds
« Reply #8 on: January 16, 2015, 12:42:15 PM »

I eventually got on to the site to try to register, only to find that you need an NS&I number to do so. So if you haven't been a previous customer you can't register electronically. At least the site let me download the forms so I think I'll go for the old fashioned approach in light of Colin's experience.


Andy
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essex2visuvesi

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Re: Pensioner Bonds
« Reply #9 on: January 16, 2015, 12:48:56 PM »

When I read the topic I was thinking of these



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Colin Bishop

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Re: Pensioner Bonds
« Reply #10 on: January 16, 2015, 12:59:26 PM »

The website still seems to be crap this morning and I don't trust it so I think I will also send in a written application, the forms are a lot simpler too.

The website link I had didn't require prior registration though, it registers you as you apply. But it is a palaver with all the security questions etc. Very poorly designed.

Dave, if you can get an XF for 10k then certainly go for it. Wheels and engine might be factory options at that price though!

Colin
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Fastfaz

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Re: Pensioner Bonds
« Reply #11 on: January 16, 2015, 12:59:37 PM »

  Hi,
     Personally I would not touch anything from Cameron, Osbourne and co after all the lies and U turns. You can get 4% from a company advertising regularly on the TV. Roll on May you never know Nige might even get in! after all how could he do any worse?
      Soap box now stored.
            Cheers,
                 Faz. <*<
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Colin Bishop

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Re: Pensioner Bonds
« Reply #12 on: January 16, 2015, 01:37:24 PM »

Can't trust companies either I'm afraid! If a company is advertising on TV it suggests a high risk factor to me. The best investments don't get advertised much.

Even Warren Buffet came horribly unstuck over his investment in Tesco!

Colin
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inertia

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Re: Pensioner Bonds
« Reply #13 on: January 16, 2015, 01:42:47 PM »

Dave, if you can get an XF for 10k then certainly go for it. Wheels and engine might be factory options at that price though!
Colin
Liz too has gone down the paper route - and I did use the word "deposit" in there, Admiral. That said......http://www.ebay.co.uk/itm/2008-Jaguar-XF-2-7TD-auto-Luxury-HPI-CLEAR-SAT-NAV-/361111242119?pt=Automobiles_UK&hash=item5413e84587
My oldest excuse is that it wouldn't fit in the garage.
DM
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Colin Bishop

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Re: Pensioner Bonds
« Reply #14 on: January 16, 2015, 01:53:45 PM »

Dave, you could get two of them in your new workshop - one each!

Colin
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Netleyned

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Re: Pensioner Bonds
« Reply #15 on: January 16, 2015, 02:17:25 PM »

Should have kept the old workshop  {-)

Ned
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BarryM

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Re: Pensioner Bonds
« Reply #16 on: January 16, 2015, 11:24:00 PM »

Can't trust companies either I'm afraid! If a company is advertising on TV it suggests a high risk factor to me. The best investments don't get advertised much.

Even Warren Buffet came horribly unstuck over his investment in Tesco!

Colin

Colin,
The website was down yesterday (Thurs) until about 2230 when I got on without problem. I put in my details and pressed for the bank transfer and it all went haywire, refused my application and sent me an email saying my bank had a problem. This morning my bank said all was well at their end. Tonight (Fri) at 2236, I got on and breezed through successfully. They seem to be getting it right at last.
Cheers,
Barry M
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Peter Fitness

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Re: Pensioner Bonds
« Reply #17 on: January 17, 2015, 01:13:23 AM »

From reading all the above comments it seems that the British and Australian governments are very similar %)


Peter.
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derekwarner

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Re: Pensioner Bonds
« Reply #18 on: January 17, 2015, 01:52:24 AM »

Just a little of thread but still relevant %)

On my anniversary of becoming an OZ senior citizen [over 65] received a telephone call from some Government womble asking if I  would like sign up for a new Government program where my local GP's records would be computerised on a Government WEB site and be available to any GP I attended within Australia

Well I thought that this sounded a sound ;D scenario & logged on..........I now have a QP reference followed by 6 numerical digits as printed out from the Australia.gov.au WEB site, however when I attempt to take the next electronic step to have my GP commit my records to the big box of electrons...I get an error message informing that my QP reference is incorrect  >>:-(

When I log back into the home page to attempt to reregister ...I am told I have an existing QP reference  %%.....and it confirms the same QP reference followed by the same 6 numerical digits, however advises that I cannot have two QP references running concurrently  :kiss:....don't you just love them?..........Derek
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BarryM

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Re: Pensioner Bonds
« Reply #19 on: January 17, 2015, 08:30:55 AM »

I eventually got on to the site to try to register, only to find that you need an NS&I number to do so. So if you haven't been a previous customer you can't register electronically. At least the site let me download the forms so I think I'll go for the old fashioned approach in light of Colin's experience.


Andy
The opening screen asks if you are/are not an existing customer. Select the correct option and either can register electronically. Just don't bother trying to logon outside quiet times.

Barry M
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Fastfaz

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Re: Pensioner Bonds
« Reply #20 on: January 17, 2015, 12:56:49 PM »

   If you can afford it and more importantly find one any Vincent classic motorcycle does not lose value they currently are rising at around 20% per year. I can't afford one and do not have anywhere to store it but here is an example- in the late seventies when I was a Trials rider I was offered a Vincent Black Shadow for 2,850.00 which I thought at the time was very expensive but it wasn't. Had I have had the foresight to have bought the bike and kept it in its pristine condition it would fetch an amazing amount of money over 100,000.00 the Chinese, Japanese and Americans are the ones who are buying up all the classic bikes. Ah well dream over.
        Cheers,
             Peter. {:-{
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Steve Dean

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Re: Pensioner Bonds
« Reply #21 on: January 19, 2015, 05:18:22 PM »

Can you see the steam coming out of my ears. I have been phoning the number for the bonds for four days now and the number is constantly engaged. Similarly I have been phoning the main number for NS&I to change my address on some premium bonds and that is constantly engaged as well.
I now have serious reservations about using NS&I for anything. If you have any sort of problem how on earth do you talk to someone?


With so many pensioners putting money into these bonds I can foresee a real problem if something happens to one of them and their dependants need to sort out their affairs. With some techno-savvy senior folk having taken out the bonds on-line their family will not even know the investment was made or find any proof that it was done !!!


Is there any hope ?


Steve.







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Colin Bishop

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Re: Pensioner Bonds
« Reply #22 on: January 19, 2015, 05:41:35 PM »

It has certainly been a monumental cock up. They seem to have made no provision for the demand for these bonds.

Many pensioners have had nowhere to put their savings free of risk to provide a decent return and pensioners tend to avoid risk if they can as they don't want to end up broke and dependent on benefits when it shouldn't be necessary. The huge demand for these bonds was therefore a no brainer.

As posted previously, I have sent off a postal application and am waiting to see if the cheques have been cashed. They sold 1.15b in the first two days online and over the phone so  the funds probably won't run out just yet - that's what I am hoping anyway. The postal application forms are simpler than the online application ones too.

Basically this is an IT and logistics problem and things should soon settle down a bit. Some people say that if you ring or go online after 10:30pm you stand a better chance of getting through.

Colin
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Steve Dean

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Re: Pensioner Bonds
« Reply #23 on: January 21, 2015, 05:34:19 PM »

There is light (even life) at the end of the NS&I tunnel !!!!


Having given up trying to apply for the wrinkly bonds on the crap-net .. I finally did it over the phone this afternoon having spent 5 days calling them from stupid o'clock in the morning to well past Horlicks time. The lady at the other end was very friendly and the process was very simple. I did the whole thing using my debit card. However I did do the 'grumpy old git' routine and told her how crap they had handled the whole scenario.


The one thing I thought is completely stupid . having applied, they then write to you and you have to reply with proof of identity, i.e. passport, driving license, etc.  Given that these are Bonds for people over 65 you would have thought they would ask for your National Insurance number as that would confirm your address and date of birth. Clearly there is no IT strategy at play here.


Steve.



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Colin Bishop

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Re: Pensioner Bonds
« Reply #24 on: January 21, 2015, 06:00:51 PM »

Steve,

Still waiting to hear re my postal application. When applying online they do ask for your NI number! In your case are they asking for photocopies of your passport etc.? I wouldn't want to trust them with any original documents!

Colin
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