Mary Hanafin (Dún Laoghaire, Fianna Fail)

I reiterate that the savings people put away themselves are not taken into account, only the Government grant and the interest earned on it. Given the Government contribution for a year for a saver who put away €254 per month, the maximum, came to €785, and that the income limit was increased by substantially more, there are very few, if any, students who should be eliminated from the scheme solely on the basis of their savings in the SSIA. The scheme that is in operation this year is identical to the scheme that has been in place since the SSIA started. From the first time it was introduced, the income limits were increased by up to 48%. Anyone who qualified for a grant last year should not be disqualified this year on the basis solely of income from the Government grant or the interest on his or her SSIA. The income limit increased by much more.

The Department of Social and Family Affairs calculates income differently because it takes into account all of the capital, including all of the savings, and then allows a capital disregard. The effect is the same and it has not changed anything when it comes to the treatment of the SSIA vis-À-vis other savings and life assurance bonds.

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