More than 40,000 SSIA account holders saw their investment mature today.
The five year scheme announced by the Government to encourage savings has been a huge success with billions of euro invested. Over the next year people will receive their savings plus a top-up of 25% from the Government.
Over €200m a month has been invested by account holders since the scheme began in 2001. When the last of the accounts mature more than €15 billion will have been saved.
Financial institutions are encouraging people to re-invest, so too are the Government. People earning less than €50,000 can avail of a top-up to their pension if they decide to use their SSIA to increase their pension fund.
But Mary O'Dea from the Financial Regulator is advising people to consider all investment schemes carefully.
While 40,000 people see their accounts mature today, those who did not sign up to the scheme until the April 30 2002 deadline, will have to wait until April of next year before they draw down their savings.
