Making Europe’s savings work: Better investment opportunities for European citizens to strengthen the European economy

The comprehensive package introduces a blueprint for Savings and Investment Accounts (SIAs) - a tool aimed at making investing simpler and more accessible for everyone.

A crucial component of securing financial independence is the possibility for citizens to manage savings better and build wealth over time, including by investing in capital markets.EU citizens have one of the highest savings rates in the world, yet they often do not get the most out of their savings. This is due to a combination of factors. While it is necessary to improve financial literacy, citizens also need simple and accessible investment opportunities.

To address this, the package includes a blueprint on Savings and Investment Accounts (SIAs), in the form of a Commission Recommendation to Member States.

SIAs are comparable to special bank accounts, offered by financial institutions and services providers, such as banks, which allow citizens (retail investors) to invest in capital markets instruments. These accounts often come with tax incentives and simplified tax procedures, making them an attractive option for citizens.

Savings and Investment Accounts (SIAs) could foster a stronger investment culture among EU citizens and have the potential to transform how Europeans engage with investment and capital markets. The European Commission aims to foster a stronger investment culture in the EU. The SIAs can enable citizens to achieve higher returns on their savings, helping them to prepare better for major life objectives, such as buying a home, funding their children's higher education or planning for retirement- all while maintaining full control over which financial products or economic sectors they choose to invest in.

By moving some of their savings into productive investments, citizens can also facilitate the financing of businesses, thereby driving economic growth and job creation across Europe, in line with the Savings and Investments Union objectives.

In some EU countries, SIAs have already proven hugely successful. In others, they exist but lack the features or incentives to make them attractive. On 30 September 2025, the Commission is recommending that Member States introduce SIAs where they do not yet exist and enhance existing schemes by incorporating best practices from across Europe and worldwide.

Drawing on these successful experiences, the Commission considers that SIA should include several key features to benefit citizens and the European economy alike:

• A wide array of providers: A wide range of authorised financial services providers (such as banks, investment firms, neobrokers), including cross-border ones, should be able to offer SIAs, boosting competition and innovation.
• Simplicity: Providers should provide a simple, reliable and easily accessible user experience for retail investors, both online and offline, that makes the buying and selling of assets within an SIA seamless.
• Flexibility: Retail investors should be allowed to open multiple accounts, including with different providers, and should not be faced with excessive fees or cumbersome processes when transferring their portfolios.
• Broad investment opportunities: SIAs should offer investments in various products such as shares, bonds and investment funds, allowing citizens to diversify their portfolios across asset classes, issuers, manufacturers geographies and risk profiles, while excluding highly risky or complex products. SIA providers are encouraged to provide citizens with investment options that allow them to channel their investments into the EU economy to contribute to strategic EU priorities.
• Tax incentives: They are key in encouraging the SIAs and achieving broader retail investor participation. Tax incentives should be well targeted and simple for retail investors, SIA providers and tax administrations to understand and apply.
• Simplified taxation process: Streamlined tax procedures, including relying on SIA providers for tax declarations, can greatly benefit retail investors.

The European Commission will closely monitor the take-up of its recommendation on a Savings and Investment Account to ensure that Europe's citizens feel confident managing their money, saving better and thriving financially.

Wopke Hoekstra, Commissioner for Climate, Net Zero and Clean Growth in charge of taxation said:

The Savings and Investment Union (SIU) is a critical driver of the EU economy. Through this initiative, the European Commission is opening a strategic pathway to enhance citizens' wealth and strengthen the broader economic framework. By aligning the Savings and Investment Union with the EU's competitiveness agenda, SIAs could emerge as a catalyst for sustainable growth and innovation across the region. Central to this effort is taxation policy, which must be carefully designed to ensure that citizens who want to invest make informed decisions that bolster the resilience and inclusivity of EU capital markets, ultimately benefiting both individual savers and market participants.

Learn more about the full package: EU to boost financial literacy and investment opportunities for citizens

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