The 29th September 2010 is fast approaching, and the question arises are my savings guaranteed after that date?

The Government is yet to make a firm decision on the matter, but in the interim period, your savings are fully guaranteed.

There are a few schools of thought out there on the matter, most probable outcome is the blanket guarantee will be withdrawn, and the original deposit guarantee scheme will be reinstated whereby your deposits up to €100K per individual per institution will be guaranteed. This guarantee also applies to Credit Union movement.

Blanket guarantee has been extended for amounts of greater than €100K if your funds are in a fixed account which must be opened prior to 29th September 2010, and guarantee in this instance is extended to 2015.

For more information on savings and Investments Contact Pat Nestor of SCK Group today.