Ockham IPS and partners are supporting the European Commission in their Impact Assessment of the EU initiative on Individual Learning Accounts. The study covers the problem definition, the justification for an EU initiative, a review of the “lessons learnt” with respect to individual learning accounts and related schemes, and an impact assessment of individual learning accounts next to other potential policy options that may be suitable to address the identified challenges, and reach the identified objectives. In particular, the study will carry out an impact assessment on the baseline scenario in the absence of an EU-level initiative, and on the policy options and sub-options.