Thousands of bereaved families owed average £5,400 payout after NS&I error
John Healey accused of surrendering to fraudsters by axing plans to save £200m
TL;DR
- NS&I failed to identify accounts of deceased customers, leaving 30,300 families owed an estimated £181.9 million.
- Repayments began in May and are not expected to be completed until mid-2027.
- Families owed more than £10 will be contacted by NS&I, while those owed less must contact the provider themselves.
- Affected families will receive their savings plus interest, with tax-exempt status for all reimbursements.
- NS&I will also reimburse legitimate legal or administrative costs incurred due to the delay.
- The operational error led to the resignation of NS&I chief executive Dax Harkins.