SSIAs to spark €14bn spending spree

HOLDERS of Special Savings Investment Accounts (SSIAs) will go on a €14 billion spending spree when their accounts mature in two years’ time, splurging on property, cars, holidays, home improvement and holiday homes.

A report prepared by Goodbody stockbrokers forecasts the equivalent of a ‘gold rush’ with an 11-month spree as accounts mature between May 2006 and April 2007.

SSIA holders will pocket an average of €13,700 and those who contributed the maximum €254 per month are in line for windfalls of almost €20,000.