FSI Turning savers into investors
New research shows contrasting public attitudes to retail investment
- Half of adults save informally every month or more
- 30% agree they have money to invest but don’t know what to do with it 2
- 25-44 age group most interested in investing more
New research from Financial Services Ireland (FSI), part of Ibec, breaks down public attitudes to the upcoming launch of retail investment accounts.
The report, conducted by Amárach Research, includes interesting findings on the demographic makeup of investors and non-investors in Ireland.
Notable is that 30% of adults surveyed say they have money to invest but don’t know what to do with it. This position is most apparent amongst the 25-44 age group (38%) and those earning above €65,000 per year (40%).
On 31 March, Tánaiste and Minister for Finance Simon Harris TD announced the development of a Personal Investment Account (PIA) at the first Annual Savings and Investment Forum.
The data in the FSI report suggests there is work to be done by Government and the financial services industry to engage with the public regarding the merits of investing.
Nation of savers
Patricia Callan, Director of Financial Services Ireland, said: “Ireland has a developed a reputation as a nation of savers, and this is backed by the findings in this report. That is a positive, but it is important that we also cultivate a new investment culture where people can build wealth through investing in capital markets.”
The study shows that just over half of adults save on an informal basis (often referred to as ‘mattress money’) once a month or more, while 70% hold a formal savings account – there is considerable overlap evident between informal and formal savers (58%).
Demographic Divergence
When it comes to investing, the data shows a stark contrast in overall attitudes compared to saving, with only 16% of those surveyed holding stocks, while 5% had other financial investments.
There are also clear divisions along demographic lines with the use of financial/investment products. For example, those under 35 are much more likely to hold cryptocurrencies (21%) than older respondents, while the over-50s are more likely (35%) to use a life insurance product.
There are notable differences across genders too, with 21% of men holding stocks compared to 11% of women, and men are also more likely to hold cryptocurrencies (16% versus 5%)
Financial Literacy
With respect to using a new retail investment account, only 23% expressed an interest in using one. Ahead of launching a PIA, the Irish government has been examining models used in other countries for retail investing, with Sweden’s ISK, the UK’s ISA and Canada’s TFSA regularly cited.
Both Government and financial services providers have indicated that improving the public’s financial literacy on investing will be critical for an Irish PIA to prove as popular as other accounts worldwide.
In the FSI research, 73% of adults say they understand the difference between savings and investments, while 50% are aware of Government plans to introduce an incentivised savings/investment scheme. Notably, those in the 55+ age group are much more aware of the government plans than those in the under-35 category.
Account features
A key segment of the FSI research focused on the design of a PIA – when questioned on the most important features for the prospective account, respondents prioritised:
- Higher returns over a deposit account (top feature for 40% of respondents)
- Product simplicity (top feature for 21% of respondents)
- Tax incentives (top feature for 14% of respondents)
On this point, Patricia Callan said: “The data shows there is an appetite for retail investment accounts, but there is work to be done to bridge the information gap out there. We need to ensure that we are improving financial literacy amongst the public so they understand the potential risks and rewards of investing and what it can ultimately offer for them.”
For more details on this research, please contact:
David Keelaghan
Senior Strategic Communications Executive
Financial Services Ireland (Ibec)
Phone: 01-605-1772
Mobile: 087-396-0690
The Amarach research involved interviewing 1000 adults in March 2026.
Editor’s Notes:
- Informal savings refers to money kept at home; money saved as part of a group (such as money clubs); or when money is moved between accounts for short-term savings. It does not include formal savings in a bank deposit account or pension plan.
- 2% of adults surveyed save money informally once a month or more.
- Among those who have formal savings, 71% have a savings account, while 46% have a pension plan.
- The sweet spot for uptake on a retail investment account appears to lie in the cohort who regularly save both formally and informally and can redirect savings to investments.
- The main barrier to informal saving is a lack of available money, a factor that is evident across all income groups though those on the lowest income more likely to cite this as a challenge. There are differences in the barriers when examined by age. An inability to manage money is greater barrier amongst those aged under 35 years, while the over 65’s are much less likely to feel the need to save.
