The Government has announced details of a new personal investment account scheme today which, it says, will make investing more accessible to the wider public.

The State-backed accounts are expected to be up and running early next year.

The accounts will have a tax-free threshold.

There will be no minimum contribution, holding or lock-in period for investors. They will also be allowed to move their accounts between providers with no tax liability.

The specific tax-free threshold, flat tax rate and annual contribution limit will be announced as part of Budget 2027.

Eligible investments will include listed shares, listed bonds, financial instruments traded on a regulated market and a range of investment funds suitable for retail investors, but highly complex and risky products, including derivatives and crypto assets, will not be eligible.

The new scheme is part of the Government’s Roadmap for the Taxation of Retail Investment plan, which sets out a pathway to simplify and adapt the country’s tax framework for retail investment.

Launching the scheme, Tánaiste and Minister for Finance Simon Harris said that Irish people are good at saving.

“Every week and every month, people work hard to put something aside to build financial security for themselves and their families,” Mr Harris said.

“But while we are good at saving, we have comparatively low levels of direct retail investment and as such people are not getting the benefits of greater returns. For people who decide that investing is right for them, I want to make sure they have a simple and accessible way to do so,” he said.

“Capital markets should not feel remote or like something that is only for people with significant wealth or financial expertise. Equally, nobody should feel that investing is something they have to do. We know that enhancing financial literacy and greater transparency and simplicity has a role to place in better informing people,” he said.

“The Investment Account is about giving people another practical option. It will bring different types of investments together in one account, take the tax administration away from the individual and give people flexibility to access their money when they need it,” he added.

The Tánaiste said that deposit accounts are right for many people and for many needs, and people should always make decisions based on their own circumstances.

“Investing involves risk and is best considered over the medium to longer term. it will not be right for everybody. What I want is for people to have choice, clear information and a system they can understand,” he said.

“For those who do decide to invest, the tax system should not be unnecessarily complicated or act as a barrier in itself,” he said.

“That is what this new account is about. It is another option for people, with a simpler tax treatment the administration taken care of on their behalf,” he concluded.

Banking and Payments Federation Ireland’s chief executive Brian Hayes said a well-designed Savings and Investment Account (SIA) can support consumers across Ireland to build greater financial resilience.


BPFI CEO Brian Hayes

“It can also help to develop a stronger investment culture, mobilise household savings for productive investment and deliver wider benefits for Irish businesses, the economy and Europe’s competitiveness,” he said.

“BPFI particularly welcomes the proposed inclusion of a tax-free element, combined with a low tax rate on returns above the relevant threshold. A clear, attractive and easily understood tax incentive will be essential to building consumer confidence and encouraging strong take-up of the account,” he added.

He said a recent survey conducted by BPFI showed that flexible withdrawals are one of the key features that was rated most important by consumers, so we welcome the flexibility provided by the Department’s proposed framework, including the absence of investment mandates or lock-up periods.

“These important design features reflect many of the proposals advanced by BPFI and its members, including the need for an account that is simple, accessible, tax-efficient and capable of accommodating a broad range of mainstream investment products,” he stated.

Critical details of new scheme yet to come

Irving Byrne, Head of Wealth Management for Cantor Fitzgerald Ireland, said that complexity and inconvenience have deterred many hard-working Irish households from the many benefits of long-term investing for too long.

“he structural features announced today are positive – in particular, the fact that the existing tax regime and the deemed disposal rule will not apply, and there will be no lock-in period required. Those changes lower barriers that have actively discouraged many Irish people from starting their investment journey,” Mr Byrne said.

But he added that the critical detail has yet to come.

“Whether this account will genuinely reward long-term investing will depend almost entirely on the three parameters still to be set – the tax-free threshold, the flat rate of tax and the annual contribution limit,” he added.