Written answers

Tuesday, 28 June 2005

Department of Finance

Special Savings Incentive Scheme

10:00 pm

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael)
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Question 318: To ask the Minister for Finance the total number of active SSIA accounts; the number of these active accounts held by women; the breakdown of the accounts held by women under the monthly subscription level; the average age of subscribers to the special savings scheme; the percentage of SSIAs held by each age group in 2004 and income levels for SSIA holders. [22638/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that, based on the 2004 SSIA annual returns furnished by all qualifying savings managers, the total number of active accounts at 31 December 2004 was 1,094,294. The overall breakdown by subscription level is as follows:

Monthly subscription level At 31/12/2004
%
â'¬12.50 or less 5
€12.51 —€59.99 14
€60 —€149.99 23
€150 —€249.99 14
€250 —€254 (max) 44

The number of active accounts held by women and the breakdown by subscription levels for women subscribers is not available.

The average age of subscribers in 2004 is 42 and the breakdown of accounts by age group is as follows:

Age Range (Years) % of SSIA accounts
%
18-29 17.9
30-39 24.9
40-49 22.9
50-59 18.1
60-69 10.7
70-79 4.4
80-89 0.9
90 and over 0.2

The income levels for SSIA holders who could be matched with the Revenue income distribution tables are as follows:

Income Category Income Range (based on income levels for tax year 2002) % of account holders at end 2004
â'¬ %
Low<â'¬20,000 27.7 Medium€20,000-€50,000 49.1 High>â'¬50,000 23.2

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