CCPC Pensions Research
The Competition and Consumer Protection Commission (CCPC) commissioned Ipsos MRBI to conduct research in July 2022 to understand how Irish adults are preparing financially for their retirement.
Summary findings include:
- while 38% of people surveyed have no pension in place, two-thirds said they would be willing to pay automatic pension contributions when they are introduced
- reasons as to why people had not yet set up a pension include, not finding the time to set one up, feeling they are too young or that they simply can’t afford it.
- almost a quarter of those in the 55-64 years age group, i.e. those who may expect to retire in the next decade, reported that they don’t currently have a pension in place
- awareness of the State Contributory pension rate was quite low with 32% of those questioned unaware of the amount of the State Contributory pension payment with awareness the lowest amongst those under the age of 35
- many people intend to supplement their retirement with other means including the State Contributory pension, selling a property, rental income, equity release and selling a business
Attachments:
CCPC Pensions Research 2022
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