Over a quarter (26 per cent) of Irish adults have no financial arrangements at all for their retirement, up from 21 per cent last year, research from Ireland's Competition and Consumer Protection Commission (CCPC) has revealed.

The research has raised renewed concerns over Ireland's pension gaps, revealing that pension ownership is lowest among 18 to 24-year-olds (18 per cent), but "worryingly", 21 per cent of those aged between 45 and 54 also have no retirement arrangements in place.

Of those who do not have a pension in place, 25 per cent said this was due to affordability concerns, down from 30 per cent last year, while nearly a fifth admitted that they simply haven’t gotten around to it yet.

However, the research also found that almost one-third of pension holders regret not starting their contributions earlier.

Complexity also remains a key challenge, as just over one in three (36 per cent) pension holders are unsure how pensions work, and more than half lack confidence in their pension’s ability to provide a good standard of living in retirement. 

The research found that engagement had gotten worse, as less than half (46 per cent) of those with a pension review their annual pension statement, down from 51 per cent last year.

Most (61 per cent) of Irish adults with no retirement plan in place instead expect to rely on the state pension to fund their retirement, which CCPC said was a noticeable increase from 53 per cent in 2024 and 43 per cent in 2023. 

What's more, the CCPC pointed out that this growing dependence on the state pension is accompanied by a sharp decline in expectations around rental income, which dropped from 22 per cent in 2022 to just 9 per cent in 2025.

This represented a significant shift away from property-based retirement strategies and, CCPC said, highlights increased vulnerability among those without private pension arrangements.

These financial concerns have impacted retirement expectations, as CCPC found that less than a fifth (19 per cent) expect to retire at 65, compared to 25 per cent in 2024.

In addition to this, a similar proportion of men and women, 20 per cent and 21 per cent respectively, now expect to work until age 70 or beyond.

But despite this, CCPC found that financial advice continues to be underused, with 66 per cent of those surveyed stating that they have never spoken to a financial advisor about their retirement plans.

It also emphasised the potential impact of this advice, revealing that 95 per cent of those who have spoken to an advisor have retirement arrangements in place.

CCPC director of communications, Grainne Griffin, said: "This year’s research confirms that Ireland’s 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’s never too early, or too late, to take action.

“It’s really important to take control of your financial future. Figure out how much you’ll need in retirement and what you can afford to contribute now. A good rule of thumb is to aim for a retirement income of 50–60 per cent of your pre-retirement income.

“We would strongly advise people to speak to a regulated and qualified financial advisor who’ll be able to guide you, no matter where you are on your pension journey."

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