{
  "id": 4696887,
  "title": "Podcast: What is the new investment account scheme?",
  "url": "https://urgent.news/2026/08/31/podcast-what-is-the-new-investment-account-scheme",
  "topic": "world",
  "section": "World",
  "published": "2026-08-31T19:07:38.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/2026/0831/1589860-podcast-what-is-the-new-investment-account-scheme/"
  },
  "original_language": "en",
  "account": "The Irish government has announced a new personal investment account scheme aimed at making investing more accessible to the general public. This state-backed initiative, expected to launch early next year, will feature a tax-free threshold. Financial planner Eoin McGee discussed the scheme on the RTÉ Radio Player show Behind the Story.\n\nWhile Irish people do save substantial amounts of money, McGee noted that our saving habits could be improved. We save only €1 for every €8 earned, which is below our European counterparts. However, our primary issue lies in how we save. A significant portion of our wealth – around 38% – is held in cash, such as bank accounts, credit unions, and An Post, which fails to outpace inflation over the long term.\n\nMcGee believes the core objective of the new investment account scheme is to encourage people to invest funds into capital markets, including bonds and shares, thereby moving money away from traditional bank accounts. He emphasized that while there will be no lock-in period for withdrawals, it is advisable not to invest funds that may be needed within the next five years.\n\nInvesting money for a period of five years or more, McGee pointed out, statistically ensures that the investment will grow and outperform the initial amount over time. Despite his positive outlook on the scheme, McGee stated that he will closely monitor the detailed information released on Budget Day for further clarity.",
  "summary": "The Government gave some detail today about the new personal investment account that they hope will make investing more accessible to the wider public.",
  "key_points": [
    "Irish government announces new personal investment account scheme.",
    "Scheme aims to make investing more accessible with tax-free threshold.",
    "Financial planner Eoin McGee discusses benefits on RTÉ Radio show."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}