Written answers

Thursday, 23 June 2005

Department of Finance

Special Savings Incentive Scheme

8:00 pm

Photo of Seán Ó FearghaílSeán 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]

Photo of Seán Ó FearghaílSeán 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]

Photo of Brian CowenBrian 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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