National Savings and Investments (NS&I), the UK Treasury-backed savings institution, has made a significant announcement impacting its 24 million customers that will extend through 2029. David Woodward has been reappointed as a Non-Executive Director to NS&I’s Board for a second three-year term, lasting until January 2029.
As a Non-Executive Director, Woodward plays a crucial role in shaping NS&I’s strategy to secure cost-effective government debt financing. His responsibilities also include providing independent advice, overseeing risk management, and maintaining transparent relationships with NS&I’s outsourcing partners.
Woodward brings extensive expertise as a chartered management accountant and seasoned finance director across various sectors. He has also served as a non-executive and audit and risk committee chair at organizations such as the Hinckley & Rugby Building Society and Lincolnshire Community Health Services NHS Trust. Beyond NS&I, he holds a Non-Executive Director role at Aspire Housing and acts as a Trustee for the Consumers’ Association charity.
In conjunction with this leadership update, NS&I has introduced new issues of its 1, 2, 3, and 5-year British Savings Bonds, including Guaranteed Growth and Income Bonds, with increased interest rates for new and renewing customers. These fixed-term bonds provide a secure investment option backed by a 100% government guarantee.
Andrew Westhead, NS&I Retail Director, commented: “We are pleased to offer higher interest rates on these fixed-term products, giving savers a choice for guaranteed returns with complete security. These changes help us balance the needs of savers, taxpayers, and the wider financial services sector.”
NS&I remains one of the UK’s largest savings organizations, serving millions with a broad portfolio of savings and investment products.