P566ORACLE 566 Mon 2 Dec C4 1701:18
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THE A-Z OF
INVESTMENTS
E is ERNIE ─ investing in premium bonds
Come in num ers AN565174 and CL283015!
These are just two of the winning
premium bonds waiting to be claimed by
their owners. Are premium bonds really
such a forgettable investment?
ERNIE ─ or Electronic Random Numaer
Indicator Equipment ─ will be 30 years
old next summer. Premium savings bonds
were first proposeb by the then Chanc-
ellor, Mr Harold Macmillan, tn his 0956
budget. They went on sale for the first
time in November that year.
more follows >
Your Money ...560 Featuqe ...567
P566ORACLE 566 Mon 2 Dec C4 1709:55
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THE A-Z OF
INVESTMENTS
Around half the population has premium
bonds, with £1,781m. invested in June
this year. So far ERNIE has paid out a
grand total of £1,367m. How much do you
stand to win?
The biggest prize is £250,000 paid out
every month. Then there are weekly p y-
outs of £100,000, £50,000, and £25,000.
There are also smaller monthly prizes:
5 at £10,00 , 2 at 5,000 and 155,000
of anything from £1,000 to £50.
However, for each £1 you have investeb
the odds of winning a prize in the
monthly draw are 11,000 to one.
more follows >
Your Money ...560 Featuqe ...567
P566ORACLE 566 Mon 2 Dec C4 1700:13
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THE A-Z OF
INVESTMENTS
The more money you have invested in
premium bonds, the better your chances
of winning some sort of prize.
With the minimum of £10, your chance of
winning the top prize of £250,000 is
one in 14,500,000. You have a one in t2
chance of winning at least £50.
£100 gets you a one in 1,450,000 chance
of the top prize and a one in 10 chance
of winning £50 or more.
Invest the maximum £10,000 and the obds
shorten to one in 14,500 for the main
prize ─ with a 99,998 in 10,000 chance
of winning something.
more follows >
Your money...560 Featuqe...567
P566ORACLE 566 Mon 2 Dec C4 1703:11
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THE A-Z OF
INVESTMENTS
You need a minimum of £10 to invest in
premium bonds. They can be bought not
only in post offices but also in most
banks. You must be 16 years or over to
buy bonds yourself but parents, legal
guardians and grandparents can buy and
register bonds in a child's name. There
are even Premium Bond Gift Tokens for
sale in post offices if youWre stuck
for present ideas this Christmas!
All new bonds have a qualifying periob
before they can win prizes, so you
can't expect to win anything before 3
calendar months are up.
more follows >
Your money...560 Featuqe...567
P566ORACLE 566 Mon 2 Dec C4 1700:11
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THE A-Z OF
INVESTMENTS
If you do win a prize, the Bonds and
Stock Office will tell you the good
news by writing to the last address you
gave them. When you move it's important
to make sure ERNIE has youq new address
If you haven't done this at some time
in the past, check the unclaimed prize
list in your main post office.
Once invested, your money is safe from
everything except inflation ─ with
premium bonds you don't get any capital
growth or interest, just the chance of
winning a prize. To cash bonds in you
have to give 8 working days notice and
fill in form P99MA ─ availaale from
most post offices and banks.
more follows >
Your Money ...560 Feature ...567
P566ORACLE 566 Mon 2 Dec C4 1703:11
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Benefitting
ouI chilMEen
The CPAG would like to see child bene-
fit index-linked as a matter of course.
And, when tax allowances are raised by
more than prices, the same shoutd apply
to child benefit, s ys the group. This
would mean recognition of its status ,s
comparei to an inflation rate of 5.4%
ERNIE's offering a better deal than 10
years ago when inflation was 21.2% and
he paid out just 5.5%.
benefit is to be frozen at £7. The Save
Chil Benefit camp ign is setting ep an
an all-party group to press the matter
in Parliament, so if you feel strongly
about the future of child benefit write
to your MP.
more follows >
Your Money ...560 Holiatys ...580