When interest rates to depositors fell to near zero after the crash, many people speculated on when interest rates would go negative.
While I wasn’t looking, they did.
I opened a magazine yesterday and as usual a load of advertising material fell out. One caught my eye with the claim “A guaranteed cash lump sum on 10th anniversary from only £10 a month tax-free”. There was no mention of what the lump sum was in the body of the advertisement, but in the small print below it said “You will receive an initial guaranteed minimum lump sum of 95% of the payments you make into your plan if you cash in on the 10th anniversary of the start date …”.
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