More than one in four adults still do not have a retirement plan in place, according to research commissioned by the Competition and Consumer Protection Commission (CCPC).
The survey, by Ipsos B&A, found that 26pc of respondents have no financial arrangements at all for their retirement.
This is an increase from 21pc last year, or one in five.
The survey also found that almost one-third of pension holders regret not starting their contributions earlier.
Affordability and “putting it on the long finger” were cited as key barriers by those who do not have a pension in place.
Around 25pc of respondents said they can’t afford it, and 19pc admitted they have yet to get around to sorting out a pension.
Just over one in three pension holders are unsure how pensions work.
Approximately six in 10 Irish adults have some form of pension
And more than half lack confidence in their pension’s ability to provide a good standard of living in retirement, the CCPC-commissioned research found.
The research also found that less than half of those with a pension review their annual pension statement, down from last year.
Pension ownership is lowest among 18- to 24-year-olds.
Almost a third of pension holders regret not starting saving plan earlier. Photo: Getty
Today’s News in 90 Seconds – Monday, September 15
However, 21pc of those aged between 45 and 54 also report having no retirement arrangements in place.
Among the adults with no retirement plan in place, the majority now expect to rely on the state pension to fund their retirement.
This growing dependence on the state pension is accompanied by a sharp decline in expectations around rental income.
This has dropped from 22pc in 2022 to just 9pc in 2025 who expect to rely on rental income to fund their retirement.
The CCPC said this suggests a significant shift away from property-based retirement strategies and highlights increased vulnerability among those without private pension arrangements.
It’s really important to take control of your financial future
Director of communications at the CCPC, Gráinne 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.”
She said that 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.
Retirement expectations are also shifting, with only 19pc expecting to retire at 65, compared to 25pc in 2024, she said.
The CCPC said the survey shows financial advice continues to be underused, with 66pc of those surveyed stating that they have never spoken to a financial adviser about their retirement plans.
Ms Griffin said: “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.”
She said a good rule of thumb is to aim for a retirement income of 50pc to 60pc of your pre-retirement income.
The CCPC advised people to speak to a regulated and qualified financial adviser who will be able to guide them, no matter where they are on their pension journey.