Almost half of SSIA cash to be invested
SSIA holders have indicated that they will spend just under one third of their cash windfalls on consumer items such as foreign holidays and cars.
Almost half (46%) will be invested in savings and pension and investment products, while about 10% will go towards debt repayment.
These results are based on the SSIA module which was included in the Quarterly National Household Survey (QNHS) in the fourth quarter of 2005.
The figures also show that:
* Over two-thirds of SSIA account holders were making the maximum contribution possible (€254 per month) to their SSIA in the fourth quarter of 2005.
* Over 40% of the population aged 21 years and over in the Dublin and South-East regions had an SSIA and just over 70% of them were contributing the maximum.
* In the fourth quarter of 2005 the average monthly contribution to SSIA accounts stood at €217.04.
* Almost 73% of persons classified as ‘Professionals’ had an SSIA.
* Almost 47% of those in employment, a little over 23% of the not economically active and almost 16% of the unemployed had an SSIA.
