Financial Markets & Investor Protection
Turning savers into investors: Europe’s new savings and investment accounts
Published on 30 September 2025
As it begins a new mandate, the European Commission is placing strong emphasis on advancing the Capital Markets Union (CMU), part of the broader Savings and Investments Union (SIU). The aim: to deepen and integrate EU financial markets while encouraging citizens to move beyond traditional bank deposits and become investors themselves.
Summary
Learning from other models
Several national schemes provide inspiration. The UK’s Individual Savings Account (ISA) and Sweden’s Investeringssparkonto (ISK) have successfully simplified investing for ordinary citizens through tax-advantaged accounts, designed to encourage long-term saving and investment.
A blueprint for pan-European accounts
Building on these examples, the Commission has recommended that Member States introduce or enhance Savings and Investment Accounts (SIAs). These accounts would give citizens easier access to capital market instruments and potentially higher returns on their savings, with features such as:
- Accessibility: open to all age groups, no minimum investment requirements.
- Choice and competition: a wide range of providers and investment options, excluding highly risky products.
- Simplicity: user-friendly design, portability across providers and borders.
- Tax incentives: simplified, automated processes and no double taxation for mobile citizens.
- Support measures: awareness campaigns and incentives for transparent, competitive products.
- Monitoring: regular reporting and best-practice sharing, with a mid-term review in 2027.
From recommendation to implementation
The Commission’s proposal is not legally binding, but it sets a framework of principles and best practices. If adopted broadly, SIAs could foster higher levels of retail investment, stronger financial literacy, and greater integration across EU capital markets.
The success of the initiative will depend on how Member States design and implement SIAs, and whether they can balance accessibility and protection with simplicity and competitiveness.
The ABBL perspective
By promoting retail investment in a safe, transparent and harmonised way, initiatives such as SIAs also contribute to strengthening trust in European capital markets. The ABBL will continue to monitor the evolution of this debate and engage with members and policymakers.