Pension ownership up 17% in Ireland but one in five still have no retirement planOver 800,000 participants were enrolled in MyFutureFund while 10,000 people have opted in themselves to MyFutureFund since January Mon, 14 Sep, 2026 – 01:02Martin Claffey
Pension ownership in Ireland has increased by 17% since the introduction of the Government’s auto-enrolment scheme, new research published on Monday by the Competition and Consumer Protection Commission (CCPC) reveals.
The launch of MyFutureFund has seen 800,000 workers enrolled since January, while over 10,000 people have opted in themselves to MyFutureFund since the start of the year. But one in five people (21%) still have no retirement plans in place, though this a five-point decrease from 2025 (26%).
The research published on Monday also highlights a significant gender gap that exists in how men and women prepare for and think about retirement. Almost one quarter of women (24%) have no retirement arrangements in place, compared with 17% of men.
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Over 80% say they will remain in auto-enrolment pension scheme
Women are also less likely to say they understand pensions (49% v 63%) and more likely to lack confidence in the standard of living they will have in retirement (32% v 23%).
Overall, only two in five respondents said they were confident their pension will provide a good standard of living in retirement, while only one in three said they were confident their pension savings will keep pace with inflation.
“Our 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,” said Gráinne Griffin, Ireland’s first Financial Literacy Ambassador and CCPC director of financial education.
“We are encouraging consumers, particularly women, to review their pension and remind them that they don’t need to do it alone.
“Pension statements can be long, complicated and hard to understand so it’s 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.”
The chief executive of the National Automatic Enrolment Retirement Savings Authority (NAERSA), Dermot Griffin said the report’s findings reflects the positive impact since the introduction of MyFutureFund in January 2026. Mr Griffin said auto-enrolment and retirement saving has become a normal part of people’s working lives.
800,000 people enrolled since January
“By the end of August 2026, over 800,000 participants were enrolled in MyFutureFund, with new participants joining each week,” said Mr Griffin. “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.”
The CCPC’s Pension Report 2026 was conducted by Ipsos Market Research in August 2026 from a sample of 1,000 interviews.
Respondents who did not have a pension in place gave varying reasons for not doing so. Some 35% of the 18-34 age group who did not have a pension said they are too young to arrange it. Among those aged 35-54 without a pension, 39% said they hadn’t got around to it. For those closer to retirement, aged 55 and above, 35% of those without one cited affordability as the reason for not having a pension in place.
The auto-enrolment pension scheme opened at the start of the year with employees earning over €20,000 being automatically included. The employee contributes 1.5% of their wage to the retirement fund which is matched by the employer and an additional 0.5% is added by the State. Employees are automatically included in the scheme but are allowed to opt out after completing six months in the scheme, with their contributions to date refunded if the opt‑out is completed. Employees can rejoin the scheme voluntarily but if eligible will be automatically re‑enrolled after two years.
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