DARWEN MP Jake Berry has welcomed the launch of a new National Savings and Investments Bond for pensioners.

The new bonds, for people aged 65 and over, will offer market-leading rates and support people who rely on their savings in retirement.

MORE TOP STORIES:

Two bonds have been launched: lA one-year bond will offer returns of 2.8 per cent gross/AER interest; and lA three-year bond will pay four per cent gross/AER interest.

The website for the bonds faced problems last week because demand overloaded it.

Mr Berry said: “A key part of our long-term economic plan is to support savers and boost hard-working people’s financial security at all stages of life.

“That’s why we’ve introduced government-backed savings bonds for people aged 65 and over that pay the best interest rates in the market.”