Thousands top up SSIAs amid capping fears

THOUSANDS of people are topping up their Special Savings Incentive Scheme (SSIA) amid speculation that a cap will be placed on the accounts in the Budget.

AIB alone, which accounts for 24% of the entire 1.2 million SSIA market, confirmed more than 3,500 people have opted to hike up the monthly amount saved into the scheme since Monday.

Most financial institutions have also noticed a significant upsurge in the number of people opting to increase their savings level, fuelled by media reports that Finance Minister Charlie McCreevy is considering making a number of changes to the scheme.