Most SSIAs are held by lower earners

NINE out of ten people with a Special Savings Incentive Account (SSIA) are in the low to medium income bracket, figures from the Revenue Commissioners have revealed.

Critics of Finance Minister Charlie McCreevy’s scheme, which was launched in 2001, said instead of taking money out of the economy, the scheme would just make rich people richer.

However, new figures show almost 90% of those with SSIAs are in the low to medium income bracket.