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Written question asked by Lord Wills (Labour) on Monday, 13 July 2026, in the House of Lords. It was due for an answer on Monday, 27 July 2026. It was answered by Lord Pitt-Watson (Labour) on Monday, 27 July 2026 on behalf of the Treasury.

National Savings and Investments: Standards

Question

To ask His Majesty's Government, following National Savings and Investment (NS&I) notifying the Treasury in December 2025 of a failure to comprehensively trace accounts for some customers who died what assessment they have made of whether there are wider systemic problems in NS&I account management.

Answer

As outlined in the written ministerial statement (HLWS1491) on 27 March 2026, we appointed Sir Jim Harra, former HMRC First Permanent Secretary, to take over as Chief Executive of NS&I on an interim basis, to provide a fresh start for NS&I’s next phase of development.

NS&I is also part-way through delivering its Business Transformation Programme which aims to modernise NS&I’s operations and systems. NS&I and HMT will consider the lessons learned from this operational error, alongside those identified by the National Audit Office and Public Accounts Committee on programme delivery, to strengthen how NS&I works with its outsourced delivery partners going forward.

Secondary information

Type
Written question
Reference
HL2045
Session
2026-27
Subjects
Standards National Savings and Investments
Link
View this Written question on www.parliament.uk