Oireachtas Joint and Select Committees

Thursday, 7 October 2021

Public Accounts Committee

2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020

9:30 am

Mr. Frank O'Connor:

I ask Mr. Black to correct me if I am wrong. The fee for the post office savings bank fund, which has just over €4 billion invested, was €28.6 million last year. That was in the post office savings bank accounts in our annual report. If one goes to prize bonds and fixed rate products, which are in another section of our annual report - I will quote from memory and Mr. Black will correct me - there is approximately €13 million in prize bond fees. The other fees come to approximately €21 million for fixed rate products.

To give the Deputy context, there is approximately €24 billion across the entirety of State savings products, which includes just more than €4 billion in the post office savings bank, just more than €4 billion in prize bonds and approximately €15 billion in the fixed rate products.

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