Six Years of Waiting for Inheritance from Premium Bonds Investment

For Sarah, the waiting game began after her father passed away in 2017. She had invested £2,500 in National Savings and Investments (NS&I) premium bonds with her late father, hoping to use the funds to support her family. However, despite numerous attempts, she was told that it would take six years for the funds to mature and be released. Sarah’s experience is not an isolated incident. Many readers have come forward to share their own struggles in claiming funds from deceased family members’ premium bond investments. The issue has been ongoing for years, with some waiting as long as 10-15 years to receive their inheritance. The problem lies in the fact that NS&I only pays out on premiums after a six-year period has passed since the last payment was made. If an investor dies before this period is up, the funds are not available until it expires. This can result in significant delays and frustration for families who have been left waiting for years to claim their inheritance. Sarah says that she had to wait five long years before finally receiving her premium bond payout. “It was a huge weight off my shoulders when I received the news,” she said. “I just wish it hadn’t taken so long.” NS&I has faced criticism in the past for its handling of premium bonds claims, particularly in relation to deceased investors. The organization has since introduced measures to improve communication with claimants and reduce waiting times. In response to the BBC’s inquiry, NS&I said that it takes “all cases seriously” and works hard to resolve them as quickly as possible. However, it acknowledges that delays can occur due to the need to verify claims and notify the correct parties. For families like Sarah’s, the wait for an inheritance from premium bonds can be a long and emotional journey. While NS&I has made efforts to improve its handling of these cases, many are still waiting for years before receiving their funds.