Earl Nelsonasked Her Majesty's Government:
What was the total amount of money invested in premium bonds at 31 st March 1982 and at 31 st March 1989 and whether the percentage of prize money to investment has increased or decreased between these dates.
The Paymaster General (The Earl of Caithness)The total amount of money invested in premium bonds at 31st March 1982 was £1,506 million. The total amount of money invested at 31st March 1989 was £2,273 million.
The rate of interest used to calculate the size of the prize fund was 7.0 per cent. per annum at 31st March 1982. The rate has changed three times since then, as follows:
1st November 1984 7.75 per cent. per annum 1st August 1987 7.0 per cent. per annum 1st July 1988 (to date) 6.5 per cent. per annum