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Bonus Bonds: What You Need To Know

Almost 900,000 people still need to cash in their Bonus Bonds. The Bonus Bonds scheme is being wound up, so ANZ is encouraging bondholders to get in touch to arrange repayment, or to donate their money to the Cancer Society.

 

Why is the Bonus Bonds scheme being wound up?

 

Low interest rates reduced the size of the Bonus Bonds prize pool, so last year the decision was made to wind up the scheme.

 

How many people are ANZ contacting?

 

Around 145,000 bondholders have already been in touch with ANZ to redeem their bonds. They account for around 63% of the total funds invested.

 

But that still leaves around 890,000 people who bought or were gifted Bonus Bonds over the 50 years the scheme was in operation.

 

If people have been in the scheme for a long time they may have forgotten they hold the bonds, and may not be aware they’re entitled to receive a payment.

 

Nearly two thirds of bondholders have $50 or less in the scheme, so they may be less motivated to claim their funds. That is why ANZ is encouraging people to think about donating their money to the Cancer Society.

 

 

More than 6000 bondholders have already chosen to donate their funds to the Cancer Society. This means ANZ will be passing on more than $100,000 on behalf of these investors.

 

 

How much will each bondholder receive?

 

Bondholders will receive $1.10 for each Bonus Bond they hold. So for example, someone who holds 100 bonds will receive $110.

The payment is expected to be made in December 2021.

 

A small additional payment (possibly a couple of cents per Bonus Bond) might be made at a later date when the wind-up is finalised, if there are remaining funds to be distributed.

 

Or they can donate the funds to the Cancer Society?

 

Yes. As a long-term major sponsor of the Cancer Society of New Zealand, ANZ has offered bondholders the option of donating their funds to the Cancer Society.

 

The Cancer Society is the only organisation that funds research into all types of cancers, and provides support to anyone affected by cancer, including families and friends, no matter what age or type of cancer someone might have.

 

More than 6000 bondholders have already chosen to donate their funds to the Cancer Society. This means ANZ will be passing on more than $100,000 on behalf of these investors.

 

What is ANZ doing to contact the remaining bondholders?

 

ANZ has a dedicated team working to contact more than one million investors who are due to receive a share of the funds remaining in the scheme.

 

It can be hard to track some people down, due to a range of factors such as people moving house or living overseas.

 

What will happen to any unclaimed funds?

 

Unclaimed funds will be given to the Treasury.

 

Treasury will manage the process for claiming funds after the scheme is wound up.

 

ANZ is encouraging anyone who thinks they may have Bonus Bonds to get in touch now so they can get their funds as soon as possible.

 

How do people contact ANZ about Bonus Bonds?

 

If you think you might be a Bonus Bondholder you can call the dedicated phone line, on 0800-266-374. Or more information visit www.bonusbonds.co.nz

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