Greece to discuss state-matched investment accounts for children

The Greek government is preparing to discuss the ‘Piggy Bank for the New Generation’ (Koumparas gia ti Nea Genia) program, a state-supported investment scheme for children. Under this initiative, the state will match parental contributions euro-for-euro, up to an initial annual limit of 1,200 euros. This cap is expected to increase by 10% every five years.

Accounts can be opened within the first two years of a child's life. The funds will be invested in approved products such as mutual funds, stocks, and bonds, with the goal of providing a significant capital sum when the child reaches 18. For example, with a hypothetical 3% average annual return, a combined contribution could result in over 64,000 euros by adulthood.

To qualify, at least one parent must be a tax resident of Greece. There are no specific income or wealth criteria for participation. While funds are generally locked until age 18, exceptions may be made for serious health issues. The program is expected to launch in early 2027, targeting children born in 2025 and 2026. The total fiscal cost is estimated to approach 500 million euros by 2040.