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Quarterly National Household Survey

Module on Special Saving Incentive Accounts (SSIAs), Quarter 4, 2005

 

Just under one-third of SSIA funds to be spent on consumer items

In the fourth quarter of 2005 SSIA account holders indicated that they will spend just under one third of their matured SSIA funds on consumer items which includes Home improvements, Foreign holiday, Car and Other purchases. A little over 46% will be committed to Savings, Pensions and Investments, approximately 10% will be directed towards Debt repayment with the remainder, just over 12%, being spent on Other items.


These results are based on the SSIA module which was included in the Quarterly National Household Survey (QNHS) in the fourth quarter of 2005, published today (12th July 2006).

Expected percentage spend of matured SSIA funds
Broad Expenditure Items
Total
Consumer items
31.2%
Savings, Pensions & Investments
46.1%
Debt repayment
10.3%
Other items
12.4%

Other features include:

  • Over two-thirds of SSIA account holders were making the maximum contribution possible (€254 per month) to their SSIA in the fourth quarter of 2005.
  • Over 40% of the population aged 21 years and over in the Dublin and South-East regions had an SSIA and just over 70% of them were contributing the maximum.
  • In the fourth quarter of 2005 the average monthly contribution to SSIA accounts stood at €217.04.
  • Almost 73% of persons classified as ‘Professionals’ had an SSIA.
  • Almost 47% of those in employment, a little over 23% of the not economically active and almost 16% of the unemployed had an SSIA.

For further information contact:

Padraig Dalton on 021 453 5305 or Caroline Barrett on 021 453 5485
Fax 021 453 5492
E-mail labour@cso.ie


Central Statistics Office

 

12 July 2006

- ENDS -