One in five people expect to retire fully - survey
A survey by Irish Life reveals that only one in five Irish adults expects to fully retire, with most anticipating a phased transition to part-time work. The report highlights a significant gap between the retirement savings people have and the amount they believe they need for a longer, 100-year life.
Why it matters
The findings underscore a shifting societal expectation regarding retirement and the growing financial pressure on individuals to fund longer lifespans.
Just one in five adults expect to fully retire and stop working in the traditional manner, according to new research from Irish Life.
The Life100+ Report is based on nationally representative research among more than 2,000 adults and examines how the prospect of significantly longer lives will change working life, retirement planning, health and family finances.
The survey found that there is a broad acceptance that longer lives will mean longer working lives, with around three quarters of respondents believing they will need to work for longer to support themselves in later life.
According to the study, 27% of respondents expect to gradually reduce their working hours, while just under a quarter expect to continue working part-time.
Among those aged 65 and over, the preference for a phased retirement is stronger again.
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