Workers who take part in their company’s save-as-you-earn spaarloon scheme will be able to take out all the money in one go from January 1, the finance ministry has decided.

The tax-free savings scheme is being phased out on that date and the government hopes releasing the cash early will help boost the economy.
The scheme allowed workers to save up to €613 a year- €51 a month – via their employer. The savings were tax-free, as long as the money remained locked up in a bank account for four years.