With base rates so low, the deals being offered by the banks mean that savers putting money away now are in fact making a loss, because few, if any saving accounts, give a better rate than inflation.
Savers who lost money in the Equitable Life pension company should start receiving compensation payments in the middle of 2011, the government has announced.
Inflation-linked savings certificates cut by NS&I Savings products linked to the inflation rate have been withdrawn from the market by National Savings and Investments after proving too popular.
ISA transfers to speed up from January 2011, creating £14.5bn in interest for the 17.5 million ISA savers in Britain.
