Ireland's Personal Investment Account (PIA), explained
The Personal Investment Account is a new Irish account for investing in shares, bonds, funds and ETFs, due to open in 2027. You pay a low flat tax each year on the value above a tax-free threshold, and your provider handles the tax for you.
Budget 2027 is on Tuesday 6 October 2026. The tax rate, the tax-free threshold and the annual contribution limit will be announced then. We will update this page the same day. See what to expect.
Key facts at a glance
| Feature | What we know | Status |
|---|---|---|
| Official name | Investment Account (widely called the Personal Investment Account, or PIA) | Confirmed in roadmap |
| When accounts open | During 2027. No exact date yet. | Confirmed in roadmap |
| Who can open one | Irish tax residents aged 18 or over with a PPSN. One account per person. | Confirmed in roadmap |
| How it is taxed | A low flat rate of tax each year on the value of the account above a tax-free threshold. No tax if the account is below the threshold. | Confirmed in roadmap |
| Tax rate | To be confirmed in Budget 2027 (6 October 2026) | Not yet announced |
| Tax-free threshold | To be confirmed in Budget 2027 (6 October 2026) | Not yet announced |
| Annual contribution limit | To be confirmed in Budget 2027 (6 October 2026) | Not yet announced |
| Minimum contribution | None | Confirmed in roadmap |
| What you can hold | Listed shares, listed bonds, instruments traded on a regulated market, and retail investment funds including ETFs | Confirmed in roadmap |
| What is excluded | Derivatives and crypto assets | Confirmed in roadmap |
| Exit tax and deemed disposal | Do not apply to investments held in the account | Confirmed in roadmap |
| Tax returns | None for the account. Your provider calculates, reports and pays the tax to Revenue. | Confirmed in roadmap |
| Lock-in period | None. Transfers between providers are intended to be tax-neutral where possible. | Confirmed in roadmap |
Why is the Government introducing it?
Irish people save a lot but invest very little. According to the Department of Finance, 38% of Irish household financial assets sit in cash and deposits, compared with an EU average of 30%. Just 2.3% is held directly in investments such as listed shares and bonds, compared with an EU average of about 7.5%.
The current tax rules for funds and ETFs are part of the reason. They include a 38% exit tax and the deemed disposal rule, which taxes gains every eight years even if you have not sold. The new account sets those rules aside and replaces them with one simple yearly charge.
Is it right for you?
It depends on your circumstances. Deposit accounts remain the right home for emergency savings and for money you will need in the next few years. Investing involves risk and is best considered over the medium to longer term. The account gives people who choose to invest a simpler way to do it.
Read the full guide or the frequently asked questions.
Warning: The value of your investment may go down as well as up.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: Past performance is not a reliable guide to future performance.
Get told when accounts open
We will email you the Budget 2027 figures when they are announced, and again when Personal Investment Accounts can be opened. No spam, and you can unsubscribe at any time.