Brian Keegan: Q. What is the value of the state pension? A. €400,000

The €400,000, in very broad terms, is what a worker would have to have paid into a private pension fund to achieve the same annuity as is offered by the state on retirement

For very many people, their quality of that life will depend on the level of pension they can enjoy after their working careers have finished. 

It might be seen as surprising that a mere 30% of workers make regular provisions for their retirement. That figure is low but perhaps the real surprise is that so many of us provide privately for retirement.

The preferred option for the majority of workers is the safety net of the State’s old-age pension.