Written answers

Wednesday, 7 February 2007

Department of Finance

Special Savings Incentive Scheme

9:00 pm

Joe Sherlock (Cork East, Labour)
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Question 170: To ask the Minister for Finance the amount paid out to date on mature SSIA accounts with a monthly breakdown since payments began; the estimated payments for the next 12 months; and if he will make a statement on the matter. [3899/07]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that the information requested of amounts paid out to date with a monthly breakdown on mature SSIA accounts is not available at the moment. Financial Institutions will, as part of their normal annual return provide some data but it will be later this year before Revenue's analysis of that data is available.

The Deputy will be aware that the SSIA scheme will come to an end in May 2007 and it is estimated that the pay out to SSIA account holders maturing in the next three months will be in the region of €9 billion. The payout will include original investment and top up, after deduction of maturity tax. The estimated payout for the scheme as a whole is likely to be in the region of €15 billion.

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