Written answers
Thursday, 23 June 2005
Department of Finance
Special Savings Incentive Scheme
8:00 pm
Seán Ó Fearghaíl (Kildare South, Fianna Fail)
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Question 90: To ask the Minister for Finance the number of SSIA accounts into which the maximum contribution is being awarded; the number of accounts into which the maximum was awarded at the outset of the scheme; and if he will make a statement on the matter. [21662/05]
Seán Ó Fearghaíl (Kildare South, Fianna Fail)
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Question 91: To ask the Minister for Finance the number of SSIA account holders who opened accounts with contributions of less than €100 per month; and if he will make a statement on the matter. [21663/05]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I propose to take Questions Nos. 90 and 91 together.
The number of SSIA accounts at various contribution levels, based on the SSIA annual returns furnished by all qualifying savings managers as at 31 December 2002, 2003 and 2004, is as outlined in the accompanying table. The SSIA scheme commenced in May 2001 and entry to it closed in April 2002. The first returns in respect of all SSIA accounts is in respect of the year ended 31 December 2002. While the number of account holders with contributions of €100 or less is not available, the table below gives a good indication of the level of contributions and the changes over the last three years.
Number of accounts | |||
Monthly contribution level | At 31/12/2002 | At 31/12/2003 | At 31/12/2004 |
â'¬12.50 or less | 42,649 | 47,340 | 50,885 |
€12.51 —€59.99 | 224,339 | 189,360 | 154,843 |
€60 —€149.99 | 334,450 | 288,606 | 247,748 |
€150 —€249.99 | 124,404 | 144,693 | 157,797 |
€250 —€254 (max) | 417,576 | 443,881 | 483,021 |
Total | 1,143,418 | 1,113,880 | 1,094,294 |
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