The best way savers can beat inflation

If you want more interest than you'll get in a savings account and you are prepared to take some risk, look at some of the retail bonds coming to the market. A particularly attractive one comes from National Grid.

It used to that you could still protect £15,000 of your cash from the combined effects of tax and inflation by shovelling it into a NS&I index-linked bond. But now you can't do that anymore they were withdrawn last week. And there isn't much you can do instead.

We look at some of the alternatives in this week's magazine out tomorrow but the truth is that if you want to be absolutely certain you will get your money back, you need to be in a bank covered by the UK's deposit guarantee. And none of those banks offer accounts that will allow you to maintain the real value of your savings.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.