Consumer watchdog urges us to care more about our pensions

People are too ill-informed and too casual about their pensions, cautions Competition and Consumer Protection Commission

A quarter of us don’t know how much the basic state contributory pension pays; only 22% correctly identify that it pays between €250 and €266 per week.

A Competition and Consumer Protection Commission (CCPC) survey of 757 people has found that a lot of us aren’t doing enough to ensure we’ll manage in retirement and even more are poorly informed about pensions in general.

A quarter of us don’t know how much the basic state contributory pension pays, and 37% underestimate the figure. Only 22% correctly identify that it pays between €250 and €266 per week.