NS&I Misinforms Grieving Family About £30,000 Inheritance

POLICY WIRE — London, UK — National Savings and Investments (NS&I), a government-backed savings bank, mistakenly informed a grieving family they would receive a £30,000 inheritance. The family was ultimately awarded only 2% of the initially promised amount.

The family sought to claim the inheritance following the death of a relative. NS&I initially communicated that the total amount available was £30,000. However, upon processing the claim, the institution determined the correct sum to be significantly lower, amounting to just £600.

A spokesperson for NS&I issued an apology, acknowledging the error and expressing regret for the distress caused to the family. “We deeply regret the mistake — and the distress this has caused to the family. We’re reviewing our processes to prevent such errors in the future,” the spokesperson stated.

The incident has raised questions about the accuracy — and reliability of financial communications from NS&I. This is not the first time the institution has faced scrutiny over its handling of customer claims.

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Reporting by Policy-Wire (PW)