Term PIEs are term deposit funds that offer investors the tax advantages of the Portfolio Investment Entity regime, and they pay tax on investment income based on the prescribed investor rate (PIR) of their investors, rather than at the entity's tax rate. Savers who'll benefit the most are those on a 30% or 33% income tax rate, because a PIE caps your tax rate at 28%. Use our Deposit Calculator to work out the after-tax savings that will apply to you.