BoI: Equity-based SSIAs performing better
21/03/2006 - 11:20:05The strong performance of stock markets in recent months has seen equity-based SSIAs further outperform both variable and fixed-rate deposit SSIAs, according to the Bank of Ireland bi-monthly SSIA Performance Indicator, which was published today.
Equity SSIA holders who began saving towards the end of the scheme in April 2002 are continuing to benefit more than a deposit-account SSIA-holder from the current equity outperformance.
For example, a customer who opened a Bank of Ireland Life equity SSIA in the last month of the scheme (April 2002), saving the maximum of €254 a month into their growth fund, would now have a balance of €18,965, 15% more than a customer who opted for a fixed-deposit rate SSIA and 20% more than an SSIA saver on the variable deposit rate.
