Personal Investment Account (PIA): What we know so far

Ireland's proposed Personal Investment Account (PIA) is moving from policy announcement to a tangible savings and investment initiative. Designed to encourage people to move money out of low-interest deposit accounts and into long-term investments, the scheme aims to help savers build wealth while fostering a stronger investment culture across Ireland. 

Table of contents

1. Why the Government is introducing a Personal Investment Account (PIA)

2. Who will be eligible?

3. How a PIA may be taxed

4. Contribution rules and limits

5. How you can invest

6. Investment options and restrictions

7. Why financial advice matters

8. When will PIA launch?

9. Key takeaways

Why the Government is introducing PIAs 

A central objective of the PIA is to encourage more people to distinguish between saving and investing. Ireland currently has approximately €170 billion on deposit, much of it in low-yield accounts₁. 
 
Ian Slattery, Head of Investment Solutions at Zurich explains: “The idea of the personal investment account is to encourage people to take that money off deposit and get it invested into real investment assets where they can see long-term growth in return.” 

Who will be eligible? 

Individuals are expected to be tax resident in Ireland, aged 18 or over, have a PPS number, and be limited to one PIA account. 

How PIAs may be taxed 

Providers are expected to administer tax on behalf of investors. Current proposals suggest tax-free growth up to a threshold, with a flat-rate tax applying above that level. 
“It looks like you will be able to grow tax free up to a certain point,” Ian says. 

Contribution rules and limits 

No minimum contribution requirement is expected. Annual contribution limits will apply, although final limits have not yet been announced. 

How you can invest 

Investors are expected to be able to contribute through regular payments or lump-sum investments. 

Investment options and restrictions 

Potential investments include multi-asset funds, equities and ETFs. Cryptocurrency and derivative-based investments are expected to be excluded.  

The Government has also confirmed that an annual contribution limit will apply to Personal Investment Accounts. However, the exact limit has not yet been announced and is expected to be confirmed as part of Budget 2027 on 6th October. 

Why financial advice matters 

According to Ian: “The personal investment account is going to be one part of a wider financial plan. PIAs should be considered as one element of a wider financial plan alongside emergency savings, pensions and protection needs,” he says. 

When will PIAs launch? 

"Final details are expected through the Budget and Finance Bill process," Ian says. "Current expectations suggest PIAs could become available during 2027." 

Key takeaways 

PIAs aim to encourage investing, simplify tax administration, offer flexible contributions, and support long-term wealth creation.

The information contained herein is based on Zurich Life’s understanding of current practice and may change in the future. 

This publication has been prepared for general guidance on matters of interest only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. 

Source: ₁Central Bank of Ireland, 2025.