NS&I to pay millions owed to bereaved families

Bereaved families could be in line for thousand of pounds of compensation from National Savings & Investments (NS&I) after the government-backed bank admitted failing to trace accounts of dead customers.

A “catastrophic operations failure”, said The Telegraph, meant money belonging to 37,500 dead savers has been withheld from their families.

NS&I has said claims with a total value of up to £476 million in customer deposits “may have been affected”.

The savings organisation’s...