Irish workers’ retirement hopes revealed in survey
By Daniel O’Neill
The latest retirement aspirations survey conducted by a leading life insurance and pensions companies has revealed when most people would like to retire if they could.
The survey by Royal London Ireland revealed that almost three-quarters of workers aspire to retire by age 60 or sooner, and that 72% want an early retirement.
The survey also showed that one tenth of the population never want to fully retire, and only 15% are happy to wait until the State pension age of 66 to retire.
Other notable figures include 40% say they would retire at 50 if they could, 6% are prepared to work until they are seventy and 34% would pick 60 as their ideal retirement age.
It also revealed that those closest to retirement show the highest inclination to continue working, with one tenth of individuals over 55 expressing a desire to never fully retire, and that more people in Leinster excluding Dublin are content to wait until the age of 66 to retire than people in the Connacht/Ulster region.
Mark Reilly, Pension Proposition Lead at Royal London Ireland, commented: “We asked this same question in 2023, and we found that in both 2023 and 2025, 60 is the most popular retirement age chosen by over one-third of respondents. However, we found a notable eagerness for early retirement in even greater numbers this year with twenty six percent wishing to retire at 50.
“Not everyone shares the same enthusiasm for early retirement though. A significant cohort are content to wait until they reach the State pension age or to work until they’re 70. This reflects the benefits that continued employment can bring, such as financial security and personal fulfilment.”
Mr Reilly added: “For those aiming to retire early, it's crucial to have a realistic understanding of their financial needs and the time available to build sufficient savings to cover what they’ll need in retirement. It would be important to talk to a Financial Broker for independent financial advice before making any decisions around early retirement.
“The survey reveals that a significant portion of older individuals express a desire to remain working, suggesting that these individuals recognise the benefits of maintaining a steady income and delaying the drawdown of their retirement savings.”