Three in four workers would opt to retire early if their finances allowed
More men (14%) than women (10%) would stop working today if they could afford to.
Almost three-quarters of Ireland’s working population are eager for early retirement, with four in ten saying they would retire by the age of 50 or even sooner, if they could.
A recent Retirement Aspirations survey commissioned by Royal London Ireland has revealed when Irish workers would like to begin their retirement – assuming money was no object.
Some 7% never want to fully retire – rising to 11% of respondents over 55, with 6% prepared to continue working until they are 70. Just 15% said the State Pension age of 66 would be their preference, followed by 12% who said they’d stop working today if they could.
“We asked this same question in 2023 and we found that in both 2023 and 2025, 60 is the most popular retirement age, chosen by over one-third of respondents,” said Mark Reilly, pension proposition lead at Royal London Ireland. “However, we found a notable eagerness for early retirement in even greater numbers this year with 26% wishing to retire at 50 – up from 21% in 2023.”
However, not everyone shares the same enthusiasm for early retirement.
“A significant cohort are content to wait until they reach the State pension age or to work until they’re 70. This reflects the benefits that continued employment can bring, such as financial security and personal fulfilment. Moreover, almost one in ten of those surveyed never want to fully retire. For many individuals, working provides purpose, identity, and a daily routine that contributes significantly to their overall well-being and life satisfaction”.
Additional insights from the Royal London Ireland Retirement Aspirations survey showed that:
- More men (14%) than women (10%) would stop working today if they could afford to.
- Conversely, more women (29%) than men (23%) would prefer to retire at the age of 50.
- Those closest to retirement show the highest inclination to continue working, with 11% of individuals over 55 expressing a desire to never fully retire, compared to 3% among those aged 45–54 and 6% among those aged 25–34.
- In 2025, there has been a 6% decrease in the number of people who would immediately stop working if given the chance.
“It’s interesting to note that more women would prefer to retire at 50, while a greater number of men would happily retire today if they could,” commented Mr O’Reilly.
“However, people often underestimate the amount of savings required for a comfortable retirement and the expenses they will face during this phase of life. For those aiming to retire early, it's crucial to have a realistic understanding of their financial needs and the time available to build sufficient savings to cover what they’ll need in retirement. It would be important to talk to a Financial Broker for independent financial advice before making any decisions around early retirement.”
He adds that the right advice will help individuals calculate how much money they will need in retirement and how much they will need to save to reach that target, while also providing information on the type of investments available, in line with personal circumstances.
“This advice would also help you fully understand the impact of early retirement on your income when you retire and your ability to have a comfortable standard of living at that stage of your life. As individuals approach retirement, they become increasingly aware of these financial realities.”
The survey reveals that a significant portion of older individuals express a desire to remain working, suggesting that these individuals recognise the benefits of maintaining a steady income and delaying the drawdown of their retirement savings.
“With people living longer, the retirement period can span decades, requiring a larger financial cushion to maintain a comfortable lifestyle and cover potential healthcare costs”.
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