Government Personal Investment Account must target mainstream savers
Risk feels very different when it is your own money. Picture: iStock
If Ireland wants an agile savings account that people will actually use, it must be built on trust, advice and the proven strength of insurers.
Irish people are good savers. But saving and building long-term financial security are not the same thing. Money left for years in low-return current and deposit accounts loses value in real terms when inflation takes hold. That is the issue the Government is trying to address through the proposed Personal Investment Account (PIA) and it is a worthwhile objective. The aim is to help more people invest some of their savings for the long term in a way that is accessible and consumer friendly.
