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Thread: An Post savings products

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    Politics.ie Member hammer's Avatar
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    Default An Post savings products

    Can anyone enlighted me and let me know where all the money that An Post takes in deposits resides ?


    Also Prize Bonds - where does all this money reside ?

    Is it bailing out Irish Banks balance sheets. Is it in ANGLO ? Has it been used to buy Anglo bonds

  2. #2
    Politics.ie Member paulp's Avatar
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    http://www.prizebonds.ie/downloads/AnnualReport2008.pdf

    On the scale of things at the moment (a billion here, 25 billion there), the prize bond fund is not so significant

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    Politics.ie Member hammer's Avatar
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    Bank of Ireland are the Bankers.

    Money safe

    Fund value €800m

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    Default NTMA State Savings and An Post

    An Post and the Prize Bond Company are selling agents for the NTMA State Savings products and they provide a counter service to collect money on behalf of the NTMA savings never reside at the Prize Bond Company or with An Post but instead are transferred immediately to the Government under the management of the NTMA. For this reason the published annual accounts of the post office (An Post) do not provide any statistics on any savings products because none form any part of the financial statements of An Post. All NTMA State Savings products including Prize Bonds are accounted for only in the annual accounts of the National Treasury Management Agency (NTMA) and are identified as being part of the national debt or sovereign debt of Ireland.

    Because State Savings money is placed with the Government, the repayment of principal, interest (and cash prizes in respect of Prize Bonds) is a direct unconditional obligation the Irish Government and there is no expiry date or limit to the amount of money that is protected.

    The NTMA Brochure 1 on their webite explains all of this and NTMA Brochure 2 list of the variety of savings products that are covered.

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    Politics.ie Member hammer's Avatar
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    Quote Originally Posted by Black Rock View Post
    An Post and the Prize Bond Company are selling agents for the NTMA State Savings products and they provide a counter service to collect money on behalf of the NTMA savings never reside at the Prize Bond Company or with An Post but instead are transferred immediately to the Government under the management of the NTMA. For this reason the published annual accounts of the post office (An Post) do not provide any statistics on any savings products because none form any part of the financial statements of An Post. All NTMA State Savings products including Prize Bonds are accounted for only in the annual accounts of the National Treasury Management Agency (NTMA) and are identified as being part of the national debt or sovereign debt of Ireland.

    Because State Savings money is placed with the Government, the repayment of principal, interest (and cash prizes in respect of Prize Bonds) is a direct unconditional obligation the Irish Government and there is no expiry date or limit to the amount of money that is protected.

    The NTMA Brochure 1 on their webite explains all of this and NTMA Brochure 2 list of the variety of savings products that are covered.
    Excellent. Thank you.

    Its safe so

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    Time to move my an post savings so.

    Sent from my X10i using Tapatalk
    I have principles you know and if you don't like them, well ..... I have others. Groucho Marx, and now it seems Irish politicos.

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    Politics.ie Member KATHY's Avatar
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    Quote Originally Posted by RiRa5 View Post
    Time to move my an post savings so.

    Sent from my X10i using Tapatalk
    Not really a good idea as is it would seem its one of the few places where your money is actually safe and there are no hidden bank charges.

    NTMA
    'The repayment of State Savings money is a direct, unconditional obligation of the Government, there is no upper limit on the amount of money that is protected and there is no expiry or end date for this protection'.

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    Quote Originally Posted by hammer View Post
    Excellent. Thank you.

    Its safe so
    Safe, maybe, safe as long as Ireland does not default. Think I would go to a paid finical advisor or two if it's a large amount of money. I would not invest my saving on advice from a web forum.

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    Quote Originally Posted by scallioneater View Post
    Safe, maybe, safe as long as Ireland does not default. Think I would go to a paid finical advisor or two if it's a large amount of money. I would not invest my saving on advice from a web forum.
    Them why are you contributing to a thread on a public forum?

    Where do you invest your "wealth" btw.... and can you advise us mere mortals of a good "finical advisor or two"?

  10. #10
    Politics.ie Member hammer's Avatar
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    3 Year Savings Bonds - 13th Issue

    You might have missed it.

    From December 16, 2012 3 year rate has fallen from 10% TO 7%

    Now why was that done !!!!

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