BPFI welcomes Government’s publication of taxation roadmap for retail investment
Monday 31st August 2026 – BPFI welcomes today’s publication by the Department of Finance, which sets out a pathway to simplify and adapt the tax framework to further support retail investment in Ireland.
Brian Hayes, Chief Executive, BPFI stated: “We warmly welcome today’s publication, which provides a roadmap on the taxation of retail investment products in Ireland, particularly in relation to the upcoming introduction of a state Savings and Investment Account (SIA). The Government deserves significant credit for taking a leading role on this agenda at EU level and moving to translate the ambitions of the Savings and Investments Union into a practical initiative for Irish consumers.”
Mr Hayes continued: “A well-designed SIA can support consumers across Ireland to build greater financial resilience. It can also help to develop a stronger investment culture, mobilise household savings for productive investment and deliver wider benefits for Irish businesses, the economy and Europe’s competitiveness. BPFI particularly welcomes the proposed inclusion of a tax-free element, combined with a low tax rate on returns above the relevant threshold. A clear, attractive and easily understood tax incentive will be essential to building consumer confidence and encouraging strong take-up of the account.”
Pointing to critical aspects of the design of an Irish SIA, Mr Hayes added: “A recent survey conducted by BPFI showed that flexible withdrawals are one of the key features that was rated most important by consumers, so we welcome the flexibility provided by the Department’s proposed framework, including the absence of investment mandates or lock-up periods. These important design features reflect many of the proposals advanced by BPFI and its members, including the need for an account that is simple, accessible, tax-efficient and capable of accommodating a broad range of mainstream investment products.”
“Successful implementation will now require sufficient lead-in time to ensure a level playing field and allow all eligible providers to design, build and test appropriate products for consumers. BPFI recommends a common commencement date in H2 2027.BPFI and our members are also committed to supporting a coordinated consumer education and awareness campaign. This will be essential to helping consumers understand how the account works, the opportunities and risks associated with investing, and the potential benefits of investing over the long term.”
He concluded: “Together, these steps will support broad provider participation, maximise consumer choice and help position the SIA for success from the outset. BPFI looks forward to continuing to work with the Government, Revenue, regulators and industry stakeholders to deliver an SIA that works effectively for consumers and the wider economy.”
More information on the BPFI recommendations for a consumer-centred Irish SIA are available here.
The BPFI Savings and Investment survey can be downloaded here.
Ends/
BPFI: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has over 120 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace.
Contact: Fiona Murphy, Head of Communications, fiona.murphy@bpfi.ie or Jillian Heffernan, Director of Communications, jillian.heffernan@bpfi.ie.
