Committee Reports > List of Committees > Dáil > 1969 > Committee of Public Accounts > Report - Appropriation Accounts 1967 - 1968

APPENDIX 5.

SAVINGS GROUPS IN FACTORIES AND SCHOOLS

Cléireach,

An Coiste um Chuntais Phoiblí.

At the proceedings of the Committee on 28th November in connection with the Appropriation Account of this Department’s Vote I undertook to supply information in regard to the organising of Savings Groups in factories and schools by the Savings Committee.

The Savings Committee has 4 Organisers who organise and help to maintain savings groups in places of employment and in schools. Since April, 1964, the Organisers have visited 3,876 private firms and factories. Of these, 431 were already operating private savings schemes and were not interested. In 1,036 cases the management refused to co-operate mainly on the grounds that deduction from pay would be too troublesome. (The Committee only promotes schemes of deduction from pay: it does not encourage schemes based on collection of savings). In 614 cases the employees were not interested. In 1,277 cases the numbers employed were too small. The Committee regards 30 employees as the minimum on the basis that only one employee in three is likely to agree to become a member of a savings group. In 264 cases a decision has not yet been reached. New savings groups have been formed in 254 cases and this number, added to 249 savings groups in existence prior to April, 1964, makes a total of 503 in existence at 31st March, 1968.

The following is a break-down of the 503 savings groups:—

These 503 savings groups represent 33,000 workers who are saving a total of £2,062,000 per annum. A breakdown of the amount being saved by the various groups is not available.

Out of a total of about 4,500 National Schools, 3,784 have been visited and savings schemes have been started in 3,076 representing 81% of those visited.

During October/November, 1968, the Committee carried out an intensive campaign in Vocational Schools. Out of 251 schools visited 231 have started savings schemes.

It is hoped to commence organising savings groups in Secondary Schools in Autumn, 1969.