Dáil Éireann Debate, Tuesday - 4 December 2018
160. Deputy Brendan Howlin asked the Minister for Finance the prize fund available under the national prize bond scheme; his plans to increase the prize fund; and if he will make a statement on the matter. [50755/18]
View answerThe National Treasury Management Agency (NTMA) has informed me that they set the variable percentage rate used to calculate the prize fund available under the National Prize Bond Scheme. Effective from August 2017, this variable percentage rate is set at 0.50% of the total value of Prize Bonds outstanding. The total value of the Prize Bonds fund at the end of 2017 was €3.17 billion.
I am also informed by the NTMA that it has no immediate plans to change the variable percentage rate used to calculate the prize fund. However rates are kept under constant review. All changes in rates seek to maintain the balance of remaining competitive, providing good value for the holders of Prize Bonds while also remaining conscious of the cost to the taxpayer.
Further details on Prize Bonds may be found on the State Savings website www.statesavings.ie.
