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What is a Personal Investment Account?
Ireland’s planned investment account will use a 1% annual tax above €50,000, with a €12,000 yearly contribution limit and provider-run tax administration.
Updated 20 October 2026
The short answer
Also called the Savings and Investment Account (SIA) or, in the Budget 2027 speech, the Irish Investment Account; its legal name in the Finance Bill is the individual investment account — government, industry and media coverage use these names for the same proposed account. Why it has two names.
A Personal Investment Account, or PIA, is intended to let Irish residents hold eligible investments through an authorised provider. The Finance (No. 2) Bill 2026 sets a 1% annual tax on average account value above €50,000 instead of CGT, exit tax, investment-undertaking tax or deemed disposal inside the account.
It is intended for Irish tax-resident adults aged 18 and over with a PPSN, with one account per person, and to launch on 1 July 2027.
In the Bill, not yet law
What it means for you
Based only on the Bill’s tax rules: no PIA tax up to €50,000, then 1% of the excess each year. Provider fees aren’t known yet and aren’t included.
- Clear fit
Starting small
e.g. €100–€300 a month
Likely no PIA tax for many years.
Below €50,000 the account pays nothing, while ETF gains outside it face 35% exit tax and deemed disposal.
Run these numbers → - Depends on returns
Paying in the maximum
€12,000 a year (€1,000 a month)
Tax-free at first; a small charge once you pass €50,000.
Paying in €12,000 a year, contributions alone reach €50,000 in year 5. At €52,000 the charge is €20 a year.
Run these numbers → - Check first
Already holding ETFs or shares
an existing Degiro, Trading 212 or broker portfolio
You can’t move them in as they are.
Only cash goes in. Selling first may trigger exit tax or CGT, and new money is capped at €12,000 a year. Moving investments in.
- Depends on returns
Large savings over time
a balance well above €50,000
The 1% is charged even in a falling year.
€100,000 would pay €500 a year. Because the charge is on value, not gains, it still applies after a market fall.
Run these numbers → - Clear fit
Couples
married or living together
Two separate accounts, not one joint one.
Each person gets their own €50,000 threshold and €12,000 yearly limit. PIAs for couples.
General information, not advice. For your own figures, use the calculator or read PIA vs ETFs.
Check your own number
Drag to an account value and see the yearly PIA tax under the Bill.
€75,000
Tax-free part
€50,000
PIA tax this year
€250
1% of €25,000, the part above €50,000. Excludes provider fees.
See 10 years vs savings and ETFs →What changes
| Outside the PIA from 2027 | Inside the PIA |
|---|---|
| Most funds and ETFs face 35% exit tax | No separate exit tax or CGT on disposals |
| Deemed disposal every eight years | No deemed disposal inside the account |
| Tax follows gains and disposals | 1% a year on average account value above €50,000 |
| Investor often handles reporting | Provider calculates, reports and pays the tax |
What could be held
What section 26 of the Finance Bill allows, and what it rules out.
Allowed
- Shares and bonds on regulated EEA or equivalent markets
- UCITS funds, which covers most ETFs sold in Europe
- Insurance-based investment products
- Cash, but only while waiting to be invested
- Switching to another provider, PIA to PIA
Not allowed
- Crypto-assets and derivatives
- Personal portfolio or structured UCITS funds
- Interest on cash (cash and money market funds)
- Moving existing ETFs or shares in (moving investments in)
- Joint accounts, or more than one PIA each
Finance (No. 2) Bill 2026, s.747H and s.747L. Not yet law; each provider will choose its own range.
Why it matters
Ireland’s current treatment makes diversified funds unusually complex for ordinary investors. The PIA is intended to simplify administration and allow investments to be changed inside the account without creating a tax event on every sale.
That does not make investing risk-free. Account values can fall, and an annual value-based charge may still arise in a year when returns are weak, because the charge is based on value, not gains.
What happens next
The Finance Bill now has to pass the Dáil and Seanad, where it can be amended, and be signed into law. Providers can then publish their own fees, investment ranges and opening arrangements ahead of the planned 1 July 2027 launch.
Track each point in the rules ledger or see which firms have spoken publicly in the provider tracker.
Run your own numbers
Compare a Personal Investment Account against a deposit account and a standard fund over 10, 20 or 30 years — with real Irish rates.
Open the PIA calculatorInformation only, not financial or tax advice. PIA rules are as written in the Finance (No. 2) Bill 2026, published 19 October 2026, and are not law until the Bill is signed. Figures cited are from the Department of Finance roadmap, Revenue, Skatteverket, GOV.UK and the IRS.