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The Commission is advancing the savings and investments union<\/a> to deliver tangible benefits for all EU citizens. Two new proposals focus on improving financial literacy at all stages of life<\/strong> and introducing a blueprint for an easy and accessible investment tool<\/strong>.<\/p>\n Financial literacy strategy<\/strong><\/p>\n Less than 20% of EU citizens have a high level of financial literacy, according to a recent survey<\/a>. The new strategy aims to enhance citizens\u2019 financial awareness<\/strong> and support EU countries in improving financial literacy<\/strong>, through<\/p>\n EU citizens have one of the highest savings rates in the world but often do not get the most out of their savings<\/strong>.\u00a0With the right knowledge and skills, they can make sound financial decisions, budget better, avoid scams and fraud, save more efficiently and feel better equipped to invest for their future.\u00a0<\/p>\n Savings and investment accounts<\/strong><\/p>\n Citizens also need simple and accessible investment opportunities.<\/strong> Savings and investment accounts (SIAs) are designed to provide them with an easy and user-friendly way to grow their wealth and achieve their personal financial goals.<\/p>\n SIAs are accounts provided by authorised financial services providers which enable retail investors to invest in capital markets. Thanks to tax incentives and simplified tax procedures, they\u2019re an attractive option for citizens who want to invest. Through SIAs, citizens can achieve higher returns on their savings compared to keeping them in bank deposits and choose which financial products and economic sectors to invest in. By doing so, they also help finance EU businesses, driving economic growth and job creation across Europe.<\/p>\n SIAs already exist in some EU countries. The Commission is now recommending that all EU countries<\/strong> introduce them. SIAs should have these key features<\/p>\n The Commission will\u00a0work closely with EU countries\u00a0and stakeholders\u00a0to implement these measures. Europe’s citizens\u00a0should feel\u00a0confident managing their money\u00a0and savings,\u00a0have better access to investment opportunities\u00a0and thrive financially.\u00a0\u00a0<\/p>\n For more information<\/strong><\/p>\n Press release<\/a><\/p>\n\n
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