SAVINGS: One in four adults has opened a Government savings scheme account, according to research commissioned by Ark Life, AIB's life and pensions company. Of the people who have not yet opened a special savings account, 34 per cent say they intend to open one before the end of the scheme.

A further 12 per cent are unsure as to whether they will participate.

These findings suggest that the take-up in the three months before the closure of the scheme at the end of April could be up to one- and-a-half-times the take-up so far. Mr Bernard Lynch, marketing manager of Ark Life, said the savings scheme had been well received so far, given the attractive offer. "However, this survey suggests that the uptake is set to increase significantly before the cut- off date."

The survey shows that large numbers of Irish people like to save, with almost half the population saving regularly. Carried out in December, the telephone survey of 1,000 subjects was conducted among a representative sample of households.

Perhaps unsurprisingly, the research shows that take-up of the scheme has been much higher in the more affluent ABC1 groups, and among 25 to 49 year olds.

The research also assessed whether people felt they had received enough information about the Government's scheme. While three in four adults recalled having received information about it, just one-third of those have gone on to open an account.

Interestingly, the research included information on which financial institution the respondents have their main account with. AIB and Bank of Ireland were almost neck and neck, with 32 and 31 per cent of the sample respectively.

The market share held by Ulster Bank (6 per cent), National Irish Bank (3 per cent) and TSB (4 per cent) is quite small in comparison.

Some 7 per cent of those surveyed had their main account with a credit union.

The EBS and Irish Permanent had a market share of 2 per cent each.

Overall, 7 per cent of the respondents said they did not have an account with a financial institution.

People living in Connacht and Ulster have the worst saving record, the survey shows.

Only 37 per cent of this group said they saved regularly, compared to 44 per cent in Munster and 50 per cent in Leinster, excluding Dublin.

The purpose of the Ark Life survey was to ascertain and evaluate current and future levels of take-up of the Government savings scheme.

The average age of investors in Ark Life's equity-based savings account is 42, and 60 per cent are male. Two-thirds of savings scheme customers are opting for deposit accounts.