NS&I customer given wait of ‘6-9 months’ to access late wife’s savings | UK | News

A grieving widower has been told by National Savings and Investments (NS&I) to wait up to nine months to access his late wife’s savings, as the government-backed bank battles a deepening bereavement crisis. Kevin Jones, 68, from Harlow, Essex, lost his wife on February 17. After submitting an online bereavement form, he received no confirmation of receipt — unlike every other financial institution he contacted.

When he chased progress, an NS&I adviser informed him the process could take “between six and nine months”. Mr Jones was told the delays were due to the bank being “short-staffed”. Mr Jones said: “I contacted NS&I after completing the bereavement form online and getting no confirmation. When I asked how long I should wait for the matter to be resolved, I was told between six and nine months.”

The case, reported by the BBC, highlights growing chaos at NS&I, which is already preparing to pay out up to £400 million to around 37,000 savers whose money was misplaced in a major scandal exposed by The Telegraph this week.

The savings giant, responsible for £240 billion belonging to more than 24 million customers, faces accusations of losing track of life savings, delaying transfers and withholding Premium Bond prizes from bereaved families.

A second case has emerged involving Peter Attwell, 71, from Barry in the Vale of Glamorgan. He is trying to organise the affairs of his brother, who died in early January without a valid will. The next of kin is Attwell’s 94-year-old mother, who has dementia and cannot sign paperwork.

Mr Attwell claimed NS&I is “stalling”. Yesterday he was told to call back in two weeks because staff are still clearing post from mid-February — pushing the total wait close to three months since first contact.

Mr Attwell said: “She has no capacity and therefore cannot sign the paperwork. Completely unacceptable!”

The revelations come as pensions minister Torsten Bell prepares to update the House of Commons today on the scandal. Treasury officials are in talks with NS&I over the £400m repayment, which is expected to be funded by taxpayers.

Opposition politicians have condemned the failures. Shadow Chancellor Sir Mel Stride warned: “Hard-working taxpayers could be forced to foot the bill for staggering mismanagement at the 160-year-old institution.”

NS&I boss Dax Harkins is under mounting pressure. The bank is already facing criticism over spiralling costs on its troubled IT modernisation programme, dubbed a “full-spectrum disaster” by MPs.

An NS&I spokesman previously apologised to affected customers, acknowledging that bereavement support has fallen short of expected standards.

The cases raise fresh questions about the bank’s ability to handle even basic administrative tasks at a sensitive time for families. With Premium Bond prize rates also being cut from April, customer frustration appears to be growing.

Express.co.uk has contacted NS&I for comment.