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Thu, 26 Mar 2026

Thu, 26 Mar 2026 NS&I boss replaced as savers left waiting for millions of pounds

Pensions Minister Torston Bell said those affected would receive compensation "where appropriate".

* NS&I chief executive Dax Harkins has resigned after a scandal over lost funds affected 37,500 people.
* Pensions Minister Torsten Bell said those affected would receive compensation "where appropriate".
* The issue was caused by operational failures in tracing funds and had been resolved, with measures put in place to prevent similar errors in the future.
* NS&I has been criticized for its handling of bereavement claims, with some families facing delays accessing their relatives' premium bonds worth up to £476m.
* The government has identified around 37,500 customers affected and is working with NS&I to resolve the issue.
* Pensions Minister Bell said that compensation would be paid where necessary and that further information would be available on NS&I's website.
* NS&I has apologized for its mistakes and is working hard to ensure that those affected are paid what is owed to them.
* A new leader, Sir Jim Harra, former HMRC boss, has taken over as chief executive of NS&I.