Think Again on Post Office Card Accounts says MP

Neil Gerrard, Labour MP for Walthamstow, is urging the Department for Work and Pensions to think again about proposals to scrap the Post Office Card Accounts. Mr Gerrard is among MPs demanding a review of the plans.

“The Post Office Card Account has been a great success” said Mr Gerrard. “This is a really popular and secure way for many people who do not have other bank accounts to draw their pensions and other benefits at Post Offices. Many elderly people in particular use the accounts. The present contract for the account runs until 2010, but the Department is already proposing to deny new benefit claimants the chance to use the Card Account.”

“There are 35000 people with the account, and for most of them there is no alternative Post Office product, so they will be forced into opening other bank or building society accounts. The loss of revenue will also be a serious blow to many small Post Offices, and we have seen too many of them closing down already, without further loss of business.”

“People should continue to have the right to choose to receive their pensions or benefits through the Post Office, with free access to their cash. I am urging the Government to think again and keep this popular account going.”

March 2006

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