McCreevy advised not to make changes to SSIA scheme

FINANCE Minister Charlie McCreevy’s senior officials have advised him not to make any changes to the Special Incentive Saving Scheme in next Wednesday’s Budget.

Mr McCreevy has pledged not to abolish the Special Saving Incentive Account schemes which promise savers a Government-funded bonus of 1 for every 4 saved over five years.

But the minister has remained silent on speculation that he may change the scheme terms to reduce the cost to the Exchequer currently estimated at €2.5bn over its five-year duration.