In 2009, Lloyds Bank had to be saved by British taxpayers. As part of the rescue package, they asked 123,000 pensioners and other savers to swap their building society PIBS and similar investments into a new bond called an ECN. By agreeing to this swap, they could help save the bank and reduce the amount taxpayers had to use to bail the bank out.

To reassure the more than 123,000 pensioners and other retail savers about the new bonds, LLoyds Bank wrote to them and told them: “Investors exchanging into ECNs will be offered securities with a fixed redemption date and whose ratings are generally expected to be higher than those of their current holding. The ECN securities will have a fixed maturity and a mandatory coupon with no blocker from the EU.”

My great grandpa decided to "do his bit" to help save the bank, because he believed them and trusted LLoyds to keep their word. Unfortunately, a few years later he passed away and now my great grandma has inherited these ECN bonds. 

Now Lloyds Bank is asking the government regulator to let them change the rules and cancel these bonds and stop paying pensioners like my great grandma.

My great grandma is not rich and is very old and does not understand why the bank is going to take away the income that she depends upon to supplement her state pension. 

This is WRONG in so many ways, not least picking on defenceless unsophisticated pensioners to deprive them of the income they depend upon. My great grandma is too old and frail to fight back. But we can fight for her by signing this petition to ask the Prime Minister to intervene and stop Lloyds. After all, we, the British taxpayer, remain Lloyds biggest shareholder!