Conference told SSIA bonus should be cut 50%

THE Government should cut the 25% Special Savings Incentive Account bonus to 12.5% or 10%, the Dublin Economic Workshop Conference was told.

Oliver Mangan, of AIB Global Treasury said that SSIA investors should also be allowed to remove themselves from the five-year scheme at any time without losing the bonus payments that had accrued.

The scheme is costing the exchequer 540 million per annum compared to initial projections of just 100 million euro.