Pension ownership has risen by 17% since 2025 new research from the Competition and Consumer Protection Commission (CCPC) reveals today.
The CCPS said this follows the introduction of the Government’s MyFutureFund auto-enrolment scheme earlier this year.
But the research also reveals that confidence in retirement outcomes remains low with just two in five people surveyed sure that their pension will provide a good standard of living in retirement.
Only one in three are confident their pension savings will keep pace with inflation, the CCPC added.
Today’s reseach also finds that a significant gender gap exists in how men and women prepare for and think about retirement.
24% of women have no retirement arrangements in place, compared with 17% of men. Meanwhile, women are less likely to say they understand pensions (49% compared to 63%) and more likely to lack confidence in the standard of living they will have in retirement (32% compared to 23%).
Gráinne Griffin, Director of Financial Education at the CCPC and Ireland’s first Financial Literacy Ambassador, said the research shows that consumers avoid reviewing their pension statements and too often are not confident that their pension will allow a good standard of living in retirement.
She said that pension statements can be long, complicated and hard to understand so it is very easy to just avoid them.
“But you don’t need to become an expert – book a short review with a financial planner or a financial advisor to check that your pension arrangements are suitable for both your current budget and your future hopes and dreams,” she advised.
The CCPS said that 63% of consumers have never had a one-to-one conversation with a financial adviser about retirement.
Among those who sought advice, 32% did so through their employer. The research also highlights a low level of understanding of pension fees and charges among private pension holders, with 25% reporting limited knowledge, and 6% unaware there were any charges associated with their pension at all.
Dermot Griffin, CEO of the National Automatic Enrolment Retirement Savings Authority (NAERSA), said that by the end of August over 800,000 participants were enrolled in MyFutureFund, with new participants joining each week.
“In addition, over 10,000 people have opted in to MyFutureFund since 1 January 2026. Retirement savings of over €550m have been invested on behalf of participants,” he added.
