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.