§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
What were the total unclaimed sums handed over by the National Savings & Investments to the Commissioners for the Reduction of the National Debt in each of the past 20 years; and what were the sub-totals in each year for:
- (a) unclaimed savings accounts;
- (b) unclaimed premium bonds;
- (c) unclaimed gilt-edged securities at redemption; and
- (d) any other categories of unclaimed monies. [HL4734]
§ Lord McIntosh of HaringeyThe table below shows National Savings & Investments unclaimed monies by product held by the Commissioners for the Reduction of the National Debt, as at 31 March 2004.
Product Amount (£000s) British Savings Bonds 2,727 Income Bonds 1,579 Pensioners Guaranteed Income Bonds 40 Premium Bonds 23,515 Savings Stamps 5,787 Total 33,648 The Commissioners for the Reduction of the National Debt do not hold any unclaimed sums for gilt-edged securities at redemption in respect of National Savings & Investments.
More detailed figures on the amounts held in each of the past 20 years could only be provided at disproportionate cost.
73WA
§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
What are the criteria for deciding when unclaimed sums in National Savings & Investments should be handed over to the Commissioners for the Reduction of the National Debt. [HL4735]
§ Lord McIntosh of HaringeyThe following criteria apply for deciding when unclaimed sums in National Savings & Investments should be handed over to the Commissioners for the Reduction of the National Debt:
- (1) Premium Bond prizes more than two years old.
- (2) Interest payments more than five years old.
- (3) Products that are off-sale and that have not earned any interest in the previous two years.
These criteria are set out in:
- National Savings Stamps Regulations 1969 No. 1343 (1969/1343)
- Premium Savings Bonds Regulations 1972 No. 765 (1972/765)
- National Savings Stock Register Regulations 1976 No. 2012 (1976/2012)