Why Ireland's pension timebomb is ticking louder and louder

Almost six in 10 workers have no private pension and expect the State pension to be their main source of income in retirement

A quarter of workers have chosen not to join their employer’s pension scheme.

The CSO’s recent report confirms pension coverage is still far too low in this country. If you don’t have anything in place other than the State pension and you want a decent standard of living in retirement, you’re going to have to take action.

In the third quarter of last year, pension coverage was greatest among workers aged 45 to 54 years (77%), and was lowest among younger workers. Three in 10 (31%) of workers aged 20 to 24 years had some form of pension coverage.