Savvy millennials’ pension coverage increases 15%

A huge spike in pension ownership among millennials in the past six months has seen Irish private pension coverage surge to Celtic Tiger-era levels.

A survey of 1,000 respondents carried out on behalf of Standard Life shows private pension ownership climbing to more than half the population at 53% - up from 50% in December 2015.

The recovery to pre-recession levels has been fuelled in recent times by a 15% surge in coverage among younger workers aged between 25 and 34 years of age.