Sharesave bonuses fall

HM Treasury has lowered the bonus rates payable on sharesave schemes in response to falling market swap rates.
The new rates are lower than those introduced in December 2008. Employees which sign up to plans after this date will receive a 1.08% bonus, rather than 2.67% on a three year plan. Five-year plans will attract a 1.67% bonus compared with 3.04%, and seven-year plans will have a 1.98% bonus rate, rather than 3.20%.