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for every four invested by the account holder. The maximum contribution was €254 per month. For deposit account SSIAs, banks paid interest on top of the government bonus and principal accumulated. Equity SSIAs were also available to investors seeking higher returns than the state-guaranteed minimum
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In 2006/7 the maturing SSIA funds were hoped to boost the slowing Irish economy. The funds amounted to €14 billion and were expected to increase the purchasing power of Irish consumers who would in turn help the Irish economy through increased spending. Due to poor external contribution and the
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Opposition parties questioned the effectiveness of the scheme in dampening inflation (running at 7% at its peak) and also the timing of the maturities, which they claimed would benefit the government at the 2007 general election.
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of 25%. The scheme, which was restricted to those over eighteen, was most popular among middle-income earners. All SSIAs matured five years from the date of opening.
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24:. These accounts were available to open between 1 May 2001 and 30 April 2002, and featured a state-provided top-up of 25% of the sum deposited.
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was expected to help sustain relatively high economic growth, with projections that SSIAs could contribute to a boost of up to 1.9%. This
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was an important factor in increasing government's tax revenue for its ambitious capital expenditure plans.
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172:"SSIAs to inject €14 billion into economy"
89:"Ssia Special Savings Accounts Ireland"
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151:: CS1 maint: archived copy as title (
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36:, the SSIA was structured so that the
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38:Government of Ireland
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32:Introduced in the
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177:RTÉ.ie
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