Retirement being postponed due to rising living costs

31% of those without a pension say they have delayed starting one due to ongoing inflation

Some 43% of people in Ireland hold no form of pension product, while 63% says that they can’t afford to both save for retirement and meet their monthly bills.

More than two in five people in Ireland without a pension have either delayed starting one or delayed their planned retirement date due to the cost-of-living crisis, according to a survey commissioned by Pensions Awareness Week.

In addition, 4% have actually cashed in their pensions in order to deal with soaring energy and other costs.