One in four 'has no provision for retirement'

One in four adults have made no financial provision for their retirement, a new survey has found.

The survey carried out by Amárach Consulting on behalf of Halifax is the fourth in a series of studies by the firm into personal banking in Ireland.

Only a third (36%) of those surveyed had a pension as a provision for retirement. One in four (26%) had savings while fewer than one in 10 (8%) had an investment property.

Of those who had not yet retired, one in five (21%) believed they would have to work part time in their retirement. Only a third (33%) said they would not work in retirement.