granny bond

noun

1. (in Britain) an informal name for retirement issue certificate, an index-linked savings certificate, originally available only to people over retirement age

Example Sentences

Depressed granny bond and annuity rates have already created a climate in which even the most determined of Tory axe men dare not take a swing at winter fuel payments; negative interest would redouble the resentment – and land it so squarely in Threadneedle Street that it is hard to imagine that bank independence would long survive.

From The Guardian