SSIA savers ‘plan to reinvest’ money
A new survey by the Irish Insurance Federation (IIF) says 53% of the 1.2 million account holders plan to save their funds, but an increasing number will spend the money. Some 19% of SSIA holders plan to splash out all or some of their cash, more than double the figure in a previous survey by the IIF.
While there are fears that the country will go on a spending spree when the accounts begin to mature from the middle of next year, more than two-thirds of those surveyed believe the Government should put some incentive in place for those looking to transfer their money to a pension plan.
