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Brussels kicks off European savings and investment accounts

The European Union deploys initiatives to support financial education

30 September 2025

2' min read

Translated by AI

Versione italiana

2' min read

Translated by AI

Versione italiana

The EU Commission today presented a strategy to strengthen the financial education of European citizens and create a new common investment instrument: the European Savings and Investment Accounts.

"With European Savings and Investment Accounts, citizens will be able to get better returns" by supporting "EU business financing, economic growth and job creation", says Financial Services Commissioner Maria Luís Albuquerque. A framework partly similar to the savings and investment accounts already existing in Italy with the Piani individuali di risparmio (Pir).

Financial Literacy

The financial literacy strategy 'aims to help citizens make informed financial decisions, ultimately improving their well-being, financial security and independence'.

According to Brussels, 'with the right combination of financial knowledge and skills, citizens can better manage their budget, avoid scams and fraud, save more efficiently and feel better equipped to invest for their future'.

The Strategy, which is part of the future Savings and Investment Union, aims on the one hand to improve the financial skills of citizens. The idea is to work with Member States to disseminate literacy programmes, educational tools and awareness-raising campaigns, with the aim of helping households and individuals to better manage their budgets, save more and plan long-term investments. Currently, it is estimated that only 18% of the European population is financially literate. On the other hand, the Commission proposes a common model for Savings and Investment Accounts, which will enable citizens to put their savings to good use with easier access to diversified financial products, while ensuring a uniform regulatory framework in the EU.

The 'European Pir'

SIAs (Savings and Investment Accounts) will offer transparent conditions, comparability of costs and a basis for consumer protection. According to Brussels, the instrument will allow more resources to be channelled to European companies, supporting economic growth, job creation and the green and digital transition. A key role will be played by tax incentives, which will be harmonised at European level while maintaining margins for national adaptation. Sia frameworks have already been introduced in some Member States, recalls the Commission: besides Italy with the Pir, in Denmark, Estonia, Finland, France, Hungary, Italy, Latvia, Lithuania, Slovakia and Sweden. However, the specifics of these initiatives vary significantly. Other EU countries have also announced their intention to introduce such frameworks as of 2026, although the specific features of these initiatives may vary significantly.

The numbers

Financial literacy levels remain low in the EU: less than one fifth of EU citizens have a high level of financial literacy (Eurobarometer 2023), with significant differences between Member States. The strategy therefore includes measures to improve the financial awareness of all citizens and support Member States' efforts to improve financial literacy.