NS&I Delays and Youth Unemployment

Some bereaved listeners whose relatives had money put away with National Savings and Investments are facing weeks and months of delay in getting their own money. It comes as NS&I works to track down the accounts of tens of thousands of people who had died, after it admitted keeping nearly half a billion pounds in its coffers that should have been passed to their estates. The state-owned bank has apologised and says its working hard on its plan to ensure those affected are paid what is owed to them, along with returning the processing of current and new bereavement claims to their normal time-frame. The cost of borrowing has been held steady by the Bank of England. On Thursday its Monetary Policy Committee held the Bank Rate at 3.75%. How is that affecting mortgage deals? And, how can young people, who’re out of work, find a job? Dan Whitworth reports on a scheme run by the charity Spear to address barriers to work. It comes as University College London publishes research which finds being out of work and education between ages 16 and 24 has long-term consequences for people’s employment and finances in midlife. Presenter: Paul Lewis Reporters: Dan Whitworth and Jo Krasner Researcher: Catherine Lund Editor: Jess Quayle Senior News Editor: Sara Wadeson (First broadcast 12pm, Saturday 2nd May 2026)