Personal Investment Account: frequently asked questions
Short answers to the questions Irish savers ask most about the new Personal Investment Account (PIA).
What is the Personal Investment Account?
The Personal Investment Account (PIA) is a new Irish investment account, officially called the Investment Account, due to be available in 2027. It lets Irish tax residents hold shares, bonds, funds and ETFs in one account, taxed by a low flat yearly charge on the value above a tax-free threshold.
When can I open a Personal Investment Account?
Accounts are due to become available during 2027. The Government has not given an exact date. The legal framework is to be included in the Finance (No. 2) Bill 2026.
Who can open one?
Individuals who are tax resident in Ireland, aged 18 or over, and who hold a PPSN. Each person can have one account.
How is the account taxed?
A low flat rate of tax is charged each year on the value of the account above a tax-free threshold. If the account is worth less than the threshold, no tax is due. Your provider calculates and pays the tax to Revenue, and the tax is final.
What is the tax rate?
The rate has not been confirmed. It will be announced in Budget 2027 on 6 October 2026. The Government has described it as a low flat rate.
What is the tax-free threshold?
The threshold has not been confirmed. It will be announced in Budget 2027 on 6 October 2026.
How much can I put in?
There will be an annual maximum contribution, but the amount has not been confirmed. It will be announced in Budget 2027 on 6 October 2026. There is no minimum contribution.
What can I invest in?
Listed shares, listed bonds, financial instruments traded on a regulated market, and investment funds suitable for retail investors, including ETFs. Derivatives and crypto assets are excluded.
Does deemed disposal apply?
No. The existing investment tax regime, including the 38% exit tax and the eight-year deemed disposal rule, will not apply to investments held inside the account. Those rules continue to apply to investments held outside it.
Do I need to file a tax return?
Not for the account. Qualifying providers will calculate, report and pay any tax due to Revenue on your behalf.
Is my money locked in?
No. There is no minimum holding period or lock-in period, so you can withdraw when you need to. The Government also intends that accounts can be moved between providers on a tax-neutral basis where possible.
Is a Personal Investment Account safe?
It is an investment account, not a deposit account. The value of your investments can go down as well as up and you may get back less than you put in. Investments are not covered by the Deposit Guarantee Scheme that protects bank deposits.
Could I pay tax in a year when my investments lose value?
Yes, that is possible. The tax is charged on the value of the account above the threshold, not on your gains. If your account is above the threshold, the yearly charge applies whether the value rose or fell that year.
Can I move my existing ETFs or shares into the account?
This has not been confirmed. The roadmap does not set out rules for transferring existing investments into the account or how that would be taxed.
Is it the same as a UK ISA?
No. A UK ISA is free of tax on gains and income. The Irish account is a taxed model with a tax-free element: no tax below the threshold and a low flat yearly tax on the value above it. It is closer in design to the Swedish investment savings account.
Should I use a PIA or a pension?
They do different jobs. Pension contributions get income tax relief but the money is generally locked away until retirement. The PIA gives no tax relief on the way in but has no lock-in. Which suits you depends on your circumstances, and many people may use both.
Who will offer Personal Investment Accounts?
Proposed eligible providers include MiFID-authorised investment firms, regulated fund managers, and insurers or firms regulated under the Insurance Distribution Regulations, including eligible EEA-authorised providers. No accounts are on sale yet.
Is this a government website?
No. This site is run by SMP Financial Ltd, a regulated Irish financial broker. It is not affiliated with the Department of Finance or Revenue. The official sources are linked on our About page.
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.
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