Special Savings Incentive Account (SSIA) savers will spend just under a third of their money on consumer items, according to figures released today by the Central Statistics Office.
Foreign holidays, cars and home improvements top spending lists for savers in line for a windfall from the Government-backed savings scheme.
Special Savings Incentive Account (SSIA) holders said they will spend just under a third of their funds on consumer items.
The CSO also found that an estimated 46% of the money is expected to be committed to savings, pensions and investments.
Around 10% will be spent on debt repayments and around 12% will be spent on other different items.
The statistics gathered in the Quarterly National Household Survey found two-thirds of SSIA account holders were making the maximum possible contribution at €254 a month to it in the fourth quarter of 2005.
The average monthly contribution stands at €217.04. Around 73% of persons classified as professionals in the survey had an SSIA. Around 40% of the population aged 21-years and over in the Dublin and South-East regions had an SSIA - with just over 70% of them contributing the maximum.
Around 47% of those in employment, a little over 23% of those who are not economically active and almost 16% of the unemployed had an SSIA.
The Government has been urging savers to cash-in on pensions since the accounts first began to mature in June.
A new Pension Incentive Scheme was introduced in the 2006 Finance Act to encourage those on more modest incomes to continue the savings habit and place some or all of their SSIA proceeds into it.