More than a quarter of Irish adults (26%) still have no financial arrangements at all for their retirement, according to new research published today by the Competition and Consumer Protection Commission (CCPC). This has increased from 21% last year (one in five). The survey also found that almost one-third of pension holders regret not starting their contributions earlier.
Of those who do not have a pension in place, affordability and putting it on the long finger were cited as the top barriers, with 25% of respondents saying they can’t afford it (down from 30% last year), and 19% admitting they haven’t gotten around to it yet.
We were joined on The Agenda this morning by Deputy Director of Financial Education at the CCPC, Muriel Dolan, who spoke to us some more about this.
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