Greece launches child savings accounts with state matching funds
The Greek government unveiled a new savings scheme for children, allowing parents to contribute up to €10,000 a year with a state match of up to €1,200.
At the Thessaloniki International Fair, the Greek government introduced a child savings plan that lets families set aside money, with the state matching contributions up to €1,200 per year, rising 10% every five years. Eligible children are those born in 2025 or 2026, and an account may be opened within two years of birth by at least one Greek-tax-resident parent. Parents can contribute up to €10,000 annually, and the money will be invested in approved mutual funds, equities, and government or corporate bonds on Greek and EU markets, with any investment income exempt from tax.
The capital is locked until the child reaches eighteen, with limited exceptions for death or serious illness, and providers must disclose standardized costs and allow free transfers. Annual spending on the scheme is projected to approach €500 million by 2040, assuming about one-third of newborns participate.
Why it matters
The plan could shape future savings habits and affect financial security for Greek youth, but its reliance on parental contributions raises equity concerns.
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