Prize Bonds asking for pps number

[busysaver]

I have all of my savings in Prize Bonds and have has a few 75 Euro prizes, today I received a lettwer from them asking for lots of personal information including pps number - I suspect they are gathering this information for the Government so that they will know how much I have in savings when they decide to means-test the state contributory pension no doubt in the near future - I am approaching 65 and wonder where else I can invest my cash at this point.

 

[busysaver]

As stated - it is contributory ( not means-tested yet ) and prizes are tax free and dirt free

 

[wbbs]

I fully expect the non contributory pension to be means tested in some form or other in future years, they change the goalposts any time they like.

 

[mandelbrot]

I have all of my savings in Prize Bonds and have has a few 75 Euro prizes, today I received a lettwer from them asking for lots of personal information including pps number - I suspect they are gathering this information for the Government so that they will know how much I have in savings when they decide to means-test the state contributory pension no doubt in the near future - I am approaching 65 and wonder where else I can invest my cash at this point.

Sorry, just so I'm clear, are you asking where you can hide your savings so that the Govt doesn't know about them, to allow you to lie on a (hypothetical) means test in order to obtain a pension payment..?

 

[dewdrop]

Have any other posters received such an enquiry from the Prize Bonds people? I have not so far. Perhaps an enquiry to them as to why they need this info might clarify matters.

 

[AlbacoreA]

Have any other posters received such an enquiry from the Prize Bonds people? I have not so far. Perhaps an enquiry to them as to why they need this info might clarify matters.

I think that would be the first thing to do alright.

 

[IsleOfMan]

Do you mean the state non-contributury penison but that is means tested anyhow so you have nothing to worry about. They might need your pps number to stop money laundering or maybe to tax you for DIRT on your winnings

DIRT(Deposit interest retention tax) is payable on interest earned not on winnings. There is no interest earned on Prize Bonds.