National Savings & Investments (NS&I) chief executive Jane Platt has confirmed that she expects post office outlets to take a diminishing share of transactions for its savings products in the future.
Platt recently told a committee of MPs that, despite the fact that 60% of its sales in 2008/09 were through the network, it is looking to develop its postal, telephone and online services and that the share of business for post offices is expected to be nearer 50% for 2009/10. In April last year the NS&I's savings account was removed from the Post Office.
In response, the Select Committee report on the HM Treasury and its associated bodies stated that, while it makes business sense for the NS&I to move away from the network, it should consider retaining stronger links with the Post Office to ensure that all sections of the public have easy access to products and to help secure the future of the network.
National Federation of Subpostmasters general secretary George Thomson said: "We fully support the recommendation that rather than withdraw products from post offices, NS&I should make all its services available across our counters."
Platt recently told a committee of MPs that, despite the fact that 60% of its sales in 2008/09 were through the network, it is looking to develop its postal, telephone and online services and that the share of business for post offices is expected to be nearer 50% for 2009/10. In April last year the NS&I's savings account was removed from the Post Office.
In response, the Select Committee report on the HM Treasury and its associated bodies stated that, while it makes business sense for the NS&I to move away from the network, it should consider retaining stronger links with the Post Office to ensure that all sections of the public have easy access to products and to help secure the future of the network.
National Federation of Subpostmasters general secretary George Thomson said: "We fully support the recommendation that rather than withdraw products from post offices, NS&I should make all its services available across our counters."
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