Nearly half of men in Ireland expect to stop working before reaching the State Pension age, compared with just 30 per cent of women, highlighting a continuing gender divide in retirement expectations.
That is one of the key findings of the Retirement Age Financial Feasibility Survey 2025, released by Royal London Ireland. The annual nationwide survey examines the age at which workers believe they can realistically afford to retire based on their current financial situation.
The research shows that almost one in five workers, or 18 per cent, believe they will not be able to afford to retire until the age of 70. For more than six in ten workers, retiring before the State Pension age of 66 feels financially out of reach.
Despite this, there are small but notable signs of growing optimism. Six per cent of workers now believe they could retire by the age of 55, double the figure recorded in the same survey last year. Confidence is strongest among those aged 45 to 54, with 11 per cent of this group believing early retirement is achievable, compared with just 4 per cent in 2024.
Overall, just over half of workers, 52 per cent, expect to retire at 65 or 66. However, attitudes to retirement are also changing, particularly among older workers. Almost one in five people aged 55 and over say they never want to fully retire, up from 13 per cent last year.
Gender differences remain pronounced throughout the findings. While 48 per cent of men expect to retire before 66, only 30 per cent of women believe the same. Women are also more likely to expect to work until 70, at 20 per cent compared with 16 per cent of men. In addition, 15 per cent of women say they never want to fully retire, compared with 10 per cent of men.
Commenting on the results, Mark Reilly, Pension Proposition Lead with Royal London Ireland, said the prospect of retiring before the State Pension age remains unrealistic for many workers. He noted that while half of workers expect to retire around 65 or 66, a significant number believe they may need to continue working until 70 due to ongoing financial pressures.
He said the increase in people aiming to retire at 55, although still small, is a positive sign, particularly among those in mid-career who now have a clearer understanding of their long-term finances.
Mr Reilly also pointed to the persistent gender pension gap. Research from the ESRI shows that retired women’s pension income in Ireland is around 35 per cent lower than men’s, helping to explain why women feel less confident about retiring earlier and are more likely to expect to keep working later in life.
The survey findings come as Ireland prepares for the introduction of auto-enrolment this year. Mr Reilly said this could help close some of the gaps in pension saving, particularly for younger workers and women, by encouraging more consistent contributions earlier in people’s careers.
He added that seeking advice from a financial broker can play an important role in helping people better understand their options and plan for a more secure retirement.
