That is the question facing SSIA holders from the end of next month when the first accounts begin to mature. For those pondering the question, help is now at hand from the financial regulator.

The regulator has just published 'Your Little Black Book of SSIAs' to give independent and practical information for SSIA account holders to help them think about what they want to do with their cash. It sets out some options that people could consider before investing any money - as well as some questions to ask Research shows that one in three consumers plan to reinvest their money, and the regulator has warned consumers to make sure they are well informed before making any decision. "If you don't actively consider all of your options you are effectively letting someone else make the decision for you, " says the financial regulator's consumer director Mary O'Dea.

O'Dea advises consumers to look at options beyond the financial products currently being developed and advertised specifically to encourage them to reinvest SSIA money.

"Be cautious about any offers of high returns, " she warns. "When you are offered a very high return this usually means you are taking a very high risk so make sure you inform yourself beforehand so that you make the right decision for you and your money. Remember - if it looks too good to be true, it usually is."

Another nugget of advice is not to be overly influenced by past investment performance, and not to invest only on the advice of family or a friend. Charges are also a key issue when re-investing and the regulator advises those reinvesting SSIA money to ask about entry and exit charges if they are moving to a new investment product.

Investors should also check whether there are penalty charges for withdrawing money early or charges for financial advice.

For those who plan to pay off their debts, the advice to consumers is to tackle the most expensive debts, such as credit card bills and personal loans, first, as they will save more money on interest.