Almost half relying on state pension: survey

Almost half of all adults are relying on the state pension to see them through retirement, according to a survey conducted by the Irish Association of Pension Funds.

But there is a big disparity between age groups, with those closer to retirement more dependent on the state pension.

Commenting on the findings, Irish Association of Pension Funds chief executive Jerry Moriarty said: “Pension participation is notoriously poor in Ireland with just 50% of workers planning for retirement. When we consider that a high percentage of these people are in the public sector, where pensions come as part of the employment package, then we see that those actively involved in setting up their own pension and saving for their retirement is relatively low.”