Happy 60th Birthday Premium Bonds!

Ernie’s 60th birthday is this month and the old boy is going strong, picking the winning numbers for Premium Bonds, without complaint, despite conspiracy theorists (and bad losers – me included!), complaining that he ignores their bonds.

 The fact is, even if you hold tonnes of bonds, your number is not likely to come up. The chance of any single £1 bond winning a prize in the monthly draw is about one to 30,000 and the odds of picking up a £1m jackpot roughly one to 31bn. However, the 1.25% return on the prize fund attracts savers; after all it is more than you will get on most savings accounts and the prizes are free of tax.

Happy birthday Ernie.