Irish adults think they'll need an average of €40,860 per year in retirement
Adults in Ireland who have yet to retire think they'll need an average of €40,860 per year to get by in retirement, equivalent to about three-quarters of the average Irish wage. In a nationwide survey of 900 non-retirees, Royal London Ireland found that men believe they'll need significantly more than women, expecting to require €44,000 on average, compared to €38,000 for women. The vast majority (97%) of people who have yet to retire in Ireland believe that the state pension alone is not enough to get by on in retirement. “People often underestimate the amount of savings required for a comfortable retirement – as well as the expenses they will face during this phase of life," said Mary Reilly , pension proposition lead at Royal London Ireland. "Our research found that, on average, people believe they will need €40,860 a year in retirement. "Given that a report published in 2024 found that a single person would need a pension of €33,600 a year, and that a coupl...