SSIAs & Economy

Will your SSIA have an effect on your life?  Of course it will!

Will the 1.1m SSIA’s maturing during the twelve month period ending 30th April 2007 effect the Irish economy? Of course it will!

Special Savings Incentive Accounts will inject some €14 billion into the economy on maturity and boost economic growth by almost two percentage points.  A recent study estimates the average pay-out from the scheme will be just over €13,600.
A total of €14 billion is being released into the economy over the 12 month period from May 2006 to April of 2007. Because many people left it until the last minute to take out an SSIA, an incredible 42% of accounts or €6 billion will be released in April 2007 alone. The average pay-out is expected to be €13,673. 00
SSIA Maturity will inject an unprecedented amount of money into the economy. This will lead to an increased demand for many goods and services, which may, in turn, lead to an increase in prices.