The European Commission published a package to advance the Savings and Investments Union, anchored by a Commission Recommendation that Member States introduce Savings and Investment Accounts (SIAs) where they do not exist and upgrade existing schemes to make investing simpler and more accessible for retail savers. The blueprint describes SIAs as special accounts offered by authorised financial services providers that allow retail investors to invest in capital markets instruments, typically supported by tax incentives and simplified tax procedures. Key design features include allowing a wide range of providers, including cross-border banks, investment firms and neobrokers, a simple online and offline user experience, flexibility to open multiple accounts and transfer portfolios without excessive fees, and access to diversified products such as shares, bonds and investment funds while excluding highly risky or complex products. It also calls for well-targeted, easy-to-apply tax incentives and streamlined taxation processes, including the use of SIA providers for tax declarations. The Commission said it will closely monitor Member State take-up of the recommendation.
European Commission 2025-09-30
European Commission recommends a Savings and Investment Accounts blueprint to broaden retail investing under the Savings and Investments Union
The European Commission has unveiled a package to promote the Savings and Investments Union, recommending Member States establish or enhance Savings and Investment Accounts (SIAs) to simplify retail investing. SIAs, offered by authorised financial services providers, feature tax incentives, a user-friendly experience, and access to diversified products while excluding high-risk items. The Commission will monitor the adoption of these recommendations.