SSIA Ireland?

Question

What way does the SSIa work? and when will be the next one, if there is one?

Answer 1

For every €4 you saved the govt. gave you a €1.You missed the boat and I doubt it'll ever sail again.

Answer 2

Im not too sure, for proper info go to www.boi.ie, thats the best bank to open an SSIA a/c with I reckon!!

Answer 3

hi i fear there wont be one soon that's for sure the way it worked is you saved a set amount a month for 61 months  from 20euros i think the upper limit was 250euros and the government added 25% of what you saved

Answer 4

SSIAs were these great savings accounts that the government organised with all the financial institutions to encourage people to save rather than spend. For every 4 Euro saved, the government would give the saver 1 Euro. It was great, many people got as much as five grand free from the government from it.

The only catch was that you had to leave your money in the SSIA account for five years, and if you withdrew it before the time was up, you didn't get your free 25% from the Boys in the Oireachtas.

I don't know what another one will be organised, I don't imagine it happening again for a while. However, you shouldn't stop saving .... I'd look into joining your local Credit Union, if I were you - the interest is good and they pay out dividends regularly.

Answer 5

There won't be another one!

Rodge and myself are organising one though. Just send us 50 quid a week for the next 20 years and we'll see how things go.....................