Financial Regulator advises caution for SSIA holders
31/12/2005 - 08:39:48The Financial Regulator will launch a campaign in the New Year to help SSIA account holders figure out what to do with their windfall.
The special savings accounts are due to start maturing in May with an average payout of about €14,000.
€14bn is the total amount invested in the scheme, and banks and financial institutions are already eyeing up the prospects for new business.
But Financial Regulator has advised consumers to think carefully before making any decisions.
The Regulator’s Mary O’Dea has said consumers should only take a little amount of money at a time, make an informed decision what to do with it and to look at paying off existing debts.
