Vol. 567 No. 1
200 Mr. Ring asked the Minister for Finance the number of savers in the SSIA scheme; the number who have accounts based on a fixed interest rate; the number who have accounts based on the variable interest rates; the number who have pulled out of the SSIA scheme, since its introduction; and the investment protection which is available for the people who opted for the variable interest accounts. [13540/03]
I am informed by the Revenue Commissioners that, based on declarations made by all qualifying savings managers, QSMs, at 31 December 2002, the total number of active accounts at 31 December 2002 was 1,143,962, as compared to 1,170,208 at 30 April 2002, a reduction of 26,246. These figures are based on information provided to date by all QSMs in their 2002 declarations and revisions may be necessary if amendments to those declarations are received at a later date.
I am further informed by the Revenue Commissioners that there are no official figures as to the number of SSIA accounts which are either at a fixed or variable rate of interest. Nor is there any information on the breakdown between accounts that are deposit-based or equity-type accounts. As all accounts receive the Exchequer contribution of 25%, there is no requirement for QSMs to provide a breakdown of which of their deposit based savers receive fixed interest rates and which receive interest at a variable rate.
The Deputy will be aware that, as long as the rate payable on an SSIA deposit account is above 0%, the balance of the account will be made up of the contribution the saver has made, the 25% Exchequer contribution, and any interest payment added to their account. As far as I am aware, all variable deposit interest SSIA accounts are interest bearing.
