Personal Investment Account

Why is the Government introducing PIAs?

The aim is to increase Irish customers’ use of investments, give people more choice in how they manage savings and investments and simplify the tax administration associated with investing.

When will PIAs be available?

In Budget 2027, the government announced that PIAs will be available from 1 July 2027, subject to the supporting legislation being enacted through the Finance Bill.

Who will be eligible?

PIAs will be available to Irish tax-resident individuals aged 18 or over who hold a Personal Public Service Number (PPSN). Each eligible individual will only be allowed to hold one PIA.

How much can be invested?

You will be able to invest a maximum amount of €12,000 per year. You can invest by regular contributions and it’s understood that lump sums will also be allowed. However, more information about this and how often contributions can be made is yet to be announced.

What is the tax-free amount?

PIAs will have a tax-free threshold of €50,000. A flat annual tax rate of 1% will apply to the portion of the PIA value above that threshold. For example, if a PIA were to be valued at €10,000 above this threshold (€60,000), the tax payable for that year would only be €100. The provider will calculate, report and pay any tax due to Revenue on your behalf. It is expected that the final legislation will set out the detailed rules.

FAQs

• How can I open a PIA with Bank of Ireland?
  Bank of Ireland will share further updates and provide details on how to apply when the product is launched next year.
  
• What other taxes will apply to a PIA?
  Investments held within a PIA will not be subject to capital gains tax, dividend withholding tax, investment undertaking tax or life assurance exit tax. The deemed disposal  rule will also not apply.
  
• What investments can be held in a PIA?
  Eligible investments will include shares, bonds, exchange-traded funds (ETFs) and insurance-based investment products. Highly complex or risky products, including derivatives and crypto assets, are excluded.
  
• Will I be able to access my PIA when I need it?
  Yes – there will be no minimum time that you must hold your PIA and no lock-in period. However, it is designed for long-term investing to help individuals grow their money over the longer term.
  
• Will I need financial advice?
  You may want to take financial advice, depending on your understanding of investments and appetite for risk. We have Financial Planning Consultants who can support you by reviewing your financial needs.
  
• Should I wait until PIAs are launched before having a financial needs conversation or going ahead with an investment?

  There is no need for you to postpone a financial needs conversation with one of our Financial Planning Consultants. This is an important step in reviewing your current goals, financial circumstances, time frames and attitude to risk. It will help you understand the investment options available to you today.

  The new Personal Investment Account is not yet available, and the details of Bank of Ireland’s offering have not been confirmed, so it may not be appropriate to delay a suitable investment to wait for all the details. Financial Planning Consultants can discuss your needs and the implications of investing now or waiting. They can also support you in appropriately deciding the next steps and understanding the impacts.

• Will the PIA replace my existing savings, investments or pension?
  The PIA is designed to complement existing savings, investments or pension. If you already have savings, investments or a pension, you do not need to make any immediate changes. The right mix of products will depend on your individual goals and circumstances, and the PIA may be one part of your overall financial plan.
  
• Does the PIA have any guarantee?
  A PIA is an investment account, not a deposit or savings account. Investments may grow more than deposit or savings accounts over the long term. However, returns are not guaranteed and the value of your investments can fall or rise. It is important to understand the risks before investing.
  
• Where can I find more information?

  We will be providing more information to customers as we approach the launch date.

  You can also view the Government’s Budget 2027 publications and the Department of Finance’s Roadmap for the Taxation of Retail Investment for further information.

As at October 2026 based on our latest understanding of the Personal Investment Account and remains subject to legislation. The above is for information purposes only and does not constitute an offer or recommendation to buy or sell any investment or subscribe to any investment management or advisory service