Greece to launch state-matched investment savings for children

Greece is introducing a new long-term investment savings program for children, dubbed the ‘Piggy Bank for the New Generation,’ scheduled to launch in January 2027. The initiative features a state-matching mechanism where the government contributes an amount equal to the family's deposit, up to a maximum of €1,200 annually. This annual limit is expected to increase by 10% every five years.

The program is designed for children born from 2025 onwards, with accounts being eligible to open within the first two years of a child's life. There are no income or wealth criteria for participation, provided at least one parent is a Greek tax resident. The funds are intended to be ‘locked’ until the child reaches age 18, at which point they can access the accumulated capital.

Supported by the banking sector, the accounts will function as investment products, allowing families to choose different risk levels, ranging from guaranteed capital to more dynamic investments in mutual funds, stocks, or bonds. Banks are preparing infrastructure to support the scheme, aiming to attract new customers and promote long-term savings habits. The measure could potentially affect approximately 150,000 children.