{"id":21715,"date":"2025-09-15T08:23:24","date_gmt":"2025-09-15T07:23:24","guid":{"rendered":"https:\/\/ccpc.inventise.ie\/consumers\/?p=21715"},"modified":"2025-09-18T15:09:55","modified_gmt":"2025-09-18T14:09:55","slug":"more-than-1-in-4-irish-adults-still-dont-have-a-retirement-plan-in-place-up-from-1-in-5-last-year-new-ccpc-research-reveals-worrying-trend","status":"publish","type":"post","link":"https:\/\/ccpc.inventise.ie\/consumers\/2025\/09\/15\/more-than-1-in-4-irish-adults-still-dont-have-a-retirement-plan-in-place-up-from-1-in-5-last-year-new-ccpc-research-reveals-worrying-trend\/","title":{"rendered":"More than 1 in 4 Irish adults still don\u2019t have a retirement plan in place, up from 1 in 5 last year \u2013 new CCPC research reveals worrying trend"},"content":{"rendered":"

15 September 2025 –<\/strong> More than a quarter of Irish adults (26%) still have no financial arrangements at all for their retirement, according to new research published today<\/a> by the Competition and Consumer Protection Commission (CCPC). This has increased from 21% last year (one in five). The survey also found that almost one-third of pension holders regret not starting their contributions earlier.<\/p>\n

Of those who do not have a pension in place, affordability and putting it on the long finger were cited as the top barriers, with 25% of respondents saying they can\u2019t afford it (down from 30% last year), and 19% admitting they haven\u2019t gotten around to it yet.<\/p>\n

Just over one in three pension holders are unsure how pensions work (36%), and more than half lack confidence in their pension\u2019s ability to provide a good standard of living in retirement. The research also found that less than half (46%) of those with a pension review their annual pension statement, down from 51% last year.<\/p>\n

While 60% of Irish adults have some form of pension (61% in 2024), a significant 26% remain completely unprepared. Pension ownership is lowest among 18 to 24-year-olds (18%), but worryingly, 21% of those aged between 45 and 54 also report having no retirement arrangements in place.<\/p>\n

Among the 26% of Irish adults with no retirement plan in place, the majority (61%) now expect to rely on the State Pension to fund their retirement \u2014 a noticeable increase from 53% in 2024 and 43% in 2023. This growing dependence on the State Pension is accompanied by a sharp decline in expectations around rental income, which dropped from 22% in 2022 to just 9% in 2025, suggesting a significant shift away from property-based retirement strategies and highlights increased vulnerability among those without private pension arrangements.<\/p>\n

Grainne Griffin, Director of Communications at the CCPC, said:<\/strong><\/p>\n

\u201cThis year\u2019s research confirms that Ireland\u2019s pensions gap remains a concern, even among those just a decade or two away from retirement. With over a quarter of adults still without any retirement plan in place, and others regretting not starting sooner, the message is clear: it\u2019s never too early, or too late, to take action.\u201d<\/p><\/blockquote>\n

Retirement expectations are also shifting with only 19% expecting to retire at 65, compared to 25% in 2024, while a similar proportion of men and women, 20% and 21% respectively, now expect to work until age 70 or beyond.<\/p>\n

Financial advice continues to be underused, with 66% of those surveyed stating that they have never spoken to a financial advisor about their retirement plans.<\/p>\n

Grainne Griffin added:<\/strong><\/p>\n

\u201cIt\u2019s really important to take control of your financial future. Figure out how much you\u2019ll need in retirement and what you can afford to contribute now. A good rule of thumb is to aim for a retirement income of 50\u201360% of your pre-retirement income.<\/p>\n

\u201cWe would strongly advise people to speak to a regulated and qualified financial advisor who\u2019ll be able to guide you, no matter where you are on your pension journey – 95% of those who have spoken to an advisor have retirement arrangements in place. Always check if they\u2019re authorised by the Central Bank of Ireland to ensure they\u2019re legitimate – you can find the Central Bank\u2019s list of regulated financial advisers, and other financial service providers, on their website at registers.centralbank.ie<\/a>.\u201d<\/p><\/blockquote>\n

For more information on pensions, including explainer videos, visit www.ccpc.ie\/consumers\/money\/pensions\/<\/a><\/p>\n

View the full report and findings at CCPC Pensions Research 2025<\/a>.<\/p>\n

ENDS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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