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Brennan may move to encourage saving

Séamus Brennan - Worry at low pensions take-up
Séamus Brennan - Worry at low pensions take-up

The Minister for Social and Family Affairs, Séamus Brennan, is to consider new proposals to encourage people to continue saving after the special savings incentive accounts or SSIAs mature.

It is hoped that savers will be encouraged to re-invest funds or to consider putting the money into pension schemes.

Mr Brennan is said to be concerned at the low levels of pension take up in the country.