A GROWING number of Irish adults are approaching retirement without any financial plan in place, according to new research from the Competition and Consumer Protection Commission (CCPC).
The findings reveal that 26% of adults in Ireland have no retirement arrangements, a major rise from 21% in the previous year.
The CCPC’s latest survey, conducted by Ipsos B&A, highlights rising uncertainty around pension planning.
Among those who do have a pension, nearly one-third expressed regret over not starting earlier.
Meanwhile, 36% said they are unsure how pensions actually work, and fewer than half now review their annual pension statements.
Pension ownership remains particularly low among younger adults aged 18 to 24, but even among those aged 45 to 54, 21% report having no plan in place.
Affordability and procrastination continue to deter people from setting up pensions.
A quarter of respondents said they simply cannot afford to contribute to a pension, while 19% admitted they have not yet made the effort to start one.
With private retirement savings lagging, many are turning to the State Pension as their primary fallback.
Among the 26% without a retirement plan, 61% now expect to rely on state support.
This rising dependence comes amid a steep decline in expectations around rental income, which has dropped from 22% in 2022 to just 9% in 2025.
Gráinne Griffin, Director of Communications at the CCPC, called the trend “worrying”, especially as confidence in pension adequacy also wanes.
“More than half of people surveyed said they lack confidence in their pension’s ability to provide a decent standard of living,” she noted.
“With over a quarter of adults still without any retirement plan in place, and others regretting not starting sooner, the message is clear: it’s never too early, or too late, to take action.”
The research also shows that attitudes toward retirement age are shifting.
Fewer than 19% of adults now expect to retire at 65, down from 25% last year.
Roughly one in five men and women anticipate working until age 70 or later.
As Ireland prepares for the rollout of the new auto-enrolment pension system in January 2026, financial experts are urging both employers and employees to begin planning now.
Keith Dundon, Head of Financial Services at SYS Financial, advised that businesses assess their options ahead of the transition period.
“Auto-enrolment is a positive step, but it won’t suit everyone,” Dundon said.
“Private pensions offer more flexibility, greater tax relief—up to 40% compared to 25% with auto-enrolment—and more control over investments and retirement options.”
The CCPC encourages individuals at all stages of their careers to assess their financial goals and seek professional advice.
A good benchmark, the Commission suggests, is aiming for a retirement income equal to 50–60% of one's pre-retirement income.
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