Martin will be joined by Andrew Hagger of comparison website moneynet.co.uk to answer questions on all aspects of savings and investments.

You can post your question at http://www.guardian.co.uk/money/blog/2010/jul/23/live-clinic-your-savings-advice and get an answer from Martin or Andrew at lunchtime on Tuesday.

Alternatively, post your questions here and we will answer them promptly.

This applies to their current issue of Savings Certificates, both Index-Linked and Fixed-Interest Savings Certificates.

The decision to withdraw these savings products comes as a result of big inflows of money into these products in recent months, something that risks N&SI failing to meet their Net Financing Target. This is a target set by government, to balance the interests of savers and the taxpayer.

For the 2010/11 financial year, the Treasury has set this Net Financing Target at zero, within a range of £2 billion either side. Withdrawing these products from sale suggests they were coming close to breaching the upper range of this limit.

Existing savers with NS&I Savings Certificates will still be able to rollover their investment into the same issue on maturity. They will also be able to invest into another type of Savings Certificate, so existing investors are pretty well catered for.

At the same time, N&SI have reduced the interest rate payable on their Direct Saver and Income Bonds by 0.25%.

The savings products from National Savings & Investments only rarely offer the most competitive rates, but savers are drawn to them for their capital security. All money with this institution is guaranteed by HM Treasury.

Savers should note that the level of protection for savings under the UK Financial Services Compensation Scheme (FSCS) is set to increase from £50,000 to €100,000 by the end of this year, due to a recent ruling by the European Commission. It has also proposed that faster compensation payments are made, resulting in all depositors being reimbursed within seven days of a bank failure.

With the cost of living increasing and the economic downturn hitting savings and investments, pre-retirees are having to make the choice between meeting their current lifestyle requirements and their planned future lifestyle.

This worrying trend is compounded by the fact that those in retirement are often most exposed to inflation because their income is fixed and the goods and services they purchase are affected by rising inflation the most.

In addition, we are all living longer and will be required to rely more on our own financial resources than receive support from the State in old age.

The cost of care increases well above the official rates of inflation (be it RPI or CPI) so the most expensive period of retirement may be in later life.

If you are at or near retirement you should consider how much you will need in retirement to meet your costs and consider forgoing avoidable expenditures now if it will have a detrimental affect on your lifestyle in retirement. 

Now is the time to use any disposable income to  maximise savings and investments, through pensions and ISAs as a priority, to build up a retirement war chest.

It is also imperative to shop around and seek advice when considering your retirement option to ensure you get the most appropriate product and best deal for you. 

The golden rule is never to accept the annuity offered by your pension provider without first ensuring it is competitive and, if it isn’t, to take the ‘Open Market Option’ and purchase an annuity for the most competitive provider for your needs. Remember too that you can get enhanced or impaired life rates if you suffer from certain medical conditions or if your lifestyle habits decrease your life expectancy.

The NS&I’s Savings Survey published today shows the individual savings ratio has remained constant at around 6% for the past five years. This is the average amount that people say they are saving as a percentage of their net income.

The percentage of people saving regularly each month in 2009 stands at 47%. This is only a slight increase from 45% in 2005, despite so much financial uncertainty.

This autumn, over half (54%) of people said their main savings objective was to set money aside in case of emergency. Creating a sufficient emergency fund should form a starting point for Financial Planning, after the repayment of expensive unsecured debt. Financial Planners typically recommend that their clients keep between three and six months of their typical expenditure as readily accessible cash.

Regularly saving money is an important financial discipline to develop at any early age and then maintain during your lifetime. Starting to invest money before you have established this savings habit is a bit like trying to run before you can walk.