Written answers

Wednesday, 17 December 2014

Department of Finance

State Savings Products

Photo of Mattie McGrathMattie McGrath (Tipperary South, Independent)
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46. To ask the Minister for Finance the reason the prize bond company, when issuing prize bonds, requires proof in the form of photo identification and proof of PPSN; and if he will make a statement on the matter. [48519/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Minister for Finance and the National Treasury Management Agency (" the NTMA") are each a 'specified body' for the purposes of sections 262 to 270 and schedule 5 of the Social Welfare Consolidation Act 2005, as amended.  This provides the power to the NTMA, acting on behalf of the Minister for Finance, to request holders of State Savings products to provide their PPS Number for the purposes of verifying the identity of such holders and to serve as a unique identifier of such holders, who may hold multiple State Savings products, including Prize Bonds, and/or multiple issues of such State Savings products. 

The NTMA, acting on behalf of the Minister for Finance, and its agents, An Post and the Prize Bond Company, use the PPS Number for the sole purpose of the administration of State Savings products and accounts. Personal data provided by holders (including photo identification and PPSN) are processed for the purpose of the administration of State Savings products and accounts, including meeting EU Savings Directive obligations and anti-money laundering requirements under the Criminal Justice Act 2010 as amended.

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