Government urged to bridge financial literacy gaps before personal investment scheme unveiled

Financial literacy in Ireland shows wide gender and generational gap emerging

Pat Lardner, CEO of Irish Funds. 'As the Government explores Personal Investment Account models and other measures to support greater participation in long‑term saving and investment, the focus must be on making it clearer and more straightforward for ordinary households," said Mr Lardner.

New research on financial literacy in Ireland has highlighted wide gender and generational divisions, with close to half (44%) of adults in Ireland admitting they do not feel financially literate or are unsure if they are.

The knowledge gap should be addressed before the Government rolls out its planned new personal investment accounts, according to the researchers.

The poll published by Irish Funds in partnership with Amárach Research looked at saving, investing, and wealth-building. It found women were significantly less likely than men to describe themselves as financially literate (49% versus 63%). Women were also far less likely to participate in investment products and platforms such as private pensions, direct shareholdings, and exchange-traded funds (ETFs), along with being more likely to report having no personal savings at all.

Adults under 35 were most likely to say they are not financially literate or to answer “don’t know” when asked to assess their financial knowledge. Among 18–24 year-olds, a quarter say they are not financially literate, while a further quarter say they do not know. By contrast, the survey found confidence rises steadily with age, with 68% of those aged 65 and over saying they are financially literate and only a small minority expressing uncertainty.

Younger adults were also often more exposed to financial risk and more likely to invest in higher-risk or emerging assets such as cryptocurrency. The report's authors said the combination of lower confidence and higher risk-taking underscores the need for earlier and more structured financial education.

The report found that 67% of those respondents have their money in a deposit account in a bank or credit union but only 9% invest in a fund. Out of respondents that had a deposit or credit union account, 64% of deposit account holders say they would do nothing with it and leave their money on deposit. 

Some 16% of respondents said they have no personal savings at all.

“This research shows that many people in Ireland want to build greater long‑term financial security, but too often feel that saving and investing is complex, unclear or difficult to access. With almost two‑thirds of adults leaving their savings on deposit - where the real value of money can be eroded over time - the data presents a compelling case for more accessible financial education, alongside a system that is easier for people to navigate," said Irish Funds chief executive Pat Lardner. 

"The confidence gap is particularly evident among women and younger adults. That gap isn’t inevitable - it reflects the current system and presents a real opportunity for Ireland. As the Government explores Personal Investment Account models and other measures to support greater participation in long‑term saving and investment, the focus must be on making it clearer and more straightforward for ordinary households. People need to be able to understand what financial products do, what they cost and the level of risk involved."

The research was carried out among 1,000 Irish adults (18+) in March 2026.