Prize Bonds fund up 9%

The Prize Bonds fund grew 9% to a record €1.45bn last year showing ongoing demand for the State-run savings scheme.

The number of cash prizes awarded, during 2011 was 385,078 — the largest amount in the 54-year history of the scheme — and a 27% increase on 2010 levels. The number of purchases increased by 3% to 339,000.

Prizes awarded to bond holders also reached a record high of €42m last year (an increase of 17% on the previous year). This is also the highest value of prizes awarded in any year to date.