The Problem

Irish citizens currently have access to several pension options—PRSAs, occupational pensions and more—but we lack a simple, flexible, tax-efficient way to save or invest outside of retirement products.

At present, almost all forms of savings and investment income in Ireland are subject to heavy taxation through Capital Gains Tax, Deemed Disposal, DIRT, Income Tax, PRSI or USC. On top of this, the reporting requirements for investment income are complex, often forcing ordinary people to hire accountants just to remain compliant.

These barriers discourage saving and investing. As a result, more than €100 billion remains in low-interest Irish deposit accounts, while many people struggle to build funds for essential life goals such as a house deposit, children’s education, financial security, or supplementing retirement.

The Proposed Solution

We are calling for the introduction of a flexible, tax-free savings and investment account for Irish residents—an accessible vehicle that allows savings to grow free from income tax and capital gains tax, with reasonable annual contribution limits.

This is not a radical idea; it is a proven one. Similar schemes already exist and are highly successful in other developed countries, such as the UK’s Individual Savings Account (ISA) and Sweden’s Investeringssparkonto (ISK). These systems encourage responsible financial planning, broaden participation in investing, and help ordinary citizens build meaningful long-term savings.

Why Ireland Needs This Now

With the cost of living rising across all essential categories—from housing, to childcare, to everyday expenses—Irish people urgently need a straightforward, fair, and efficient way to save for their future. A tax-free savings and investment account would:

Empower individuals and families to build financial security
Encourage long-term, responsible saving habits
Reduce reliance on costly financial advice for basic investing
Allow ordinary people—not only high-income earners—to benefit from investment growth
Align Ireland with international best practices
Most importantly, it would give people a realistic chance to meet their personal and financial goals.

By calling for an Irish version of the SIA, we are not advocating an isolated national policy — but asking Ireland to join a broader, forward-looking European framework. On 30 September 2025, the European Commission unveiled a blueprint for Savings and Investment Accounts (SIAs) — a new policy instrument designed to give citizens easy, accessible and tax-efficient ways to invest their savings in capital-market instruments (shares, bonds, funds).

Our Request

We ask the Government of Ireland to design and implement a tax-free savings and investment scheme—similar to the ISA and ISK—that is accessible to all residents and supports long-term financial wellbeing.

This is a practical, achievable reform that would strengthen household finances, improve economic resilience, and give every person in Ireland a fair opportunity to build a better future.