New savings schemes should be simple and tax-free for young adults, says think tank

The plans have drawn comparisons with the Celtic Tiger-era SSIA scheme. File picture

Government-backed investment accounts should be made as simple as possible for the public to access, while tax-free products should be made available to 18–25-year-olds, a new report has claimed.

Delving into options for personal investment accounts in Ireland, the think tank Institute for International and European Affairs (IIEA) said public understanding will be a key factor in ensuring take-up when the schemes are expected to launch in 2027.