Personally, I am sick and tired of being treated like a second rate citizen just because my hair is grey. Low interest rates have decimated my income while the government prioritises youth unemployment and people with mortgages.
I worked all my life, paid my taxes and saverd for my old age, just so that I could be kicked in the teeth.
So sign this e-petition if, like me, you've decided that enough is enough...
Because of historically low interest rates and the introduction of funding for lending, rates of interest on savings have dropped dramatically.
The government has focussed on youth unemployment and borrowers but has done nothing to ease the pain for elderly people living on the interest on their savings.
Elderly members of the community who were told to make provision for their old age by successive governments have been disadvantaged unfairly for doing what they were told to do.
We call for the Government to use it's ownership of banks to force the introduction of high interest fixed term savings accounts for people over 60.
6 comments:
Unfortunately they just decided that they can just steal 10% of your bank account instead!! See News in Cyprus. Who's next up?
Appalling isn't it? I have a friend who lives in Cyprus. I must ask him what he thinks about it.
Legalised theft I call it. Seig Heil !!
the test has been done...empty your bank accounts, use it to create a new bank outside the corporate fascism to help your children and grandchildren.
Nostradamus said, everything on p[aper will be worthless
get it out and use it
generosity is its name before you lose the lot
What we need is a couple of thousand Dave Fishmans. Lots of little local bank that loan to the local economy and give good interest to local savers.
I'm not convinced that age related interest rates are the answer.
It occurs to me that higher interest rates for all savers would be a positive thing.
Who wants to put money at risk for 0.50%. Higher rates would encourage lending, dampen house prices and attract foreign investors.
I agree in principal, Twig. Higher rates for savers across the board would be good. When I retired I was getting around 7% and now I'm lucky if I get 2%.
My reason for supporting this was that the gov is trying to help the youth, it is trying to help people with debts and mortgages. What it is not doing is helping people who, after being encouraged by successive administrations to save and make provision for their old age, are living off the interest on their savings.
My income has dropped by two thirds since the financial crisis. I know that everyone is suffering, but we seem to be the group getting the least help - or even attention.
I totally agree with your final paragraph. Thanks for your comments.
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