Ireland has an opportunity to strengthen its savings and investment culture through the introduction of a national Savings and Investments Account (SIA), in line with the European Commission’s Recommendation. With Irish households holding a high proportion of savings in cash and deposits, a well-designed SIA can help channel savings into productive, long-term investments that benefit consumers, the economy, and wider society.

Insurance Ireland believes insurers should play a central role in the design and delivery of an Irish SIA. Insurance-based investment products already provide Irish consumers with accessible, diversified, and well-regulated routes into capital markets, supported by strong consumer protections and extensive advisory networks. Recognising insurers as eligible SIA providers, alongside clear tax incentives and simple account design, will be key to driving retail participation and ensuring the success of the framework.

Read Insurance Ireland’s full concept paper here: Insurance Ireland Concept Paper – Irish Savings & Investments Account (SIA)