Based on in-depth industry research and building upon state formulated data via the CSO (Central Statistics Office) of Ireland, the focus of this infographic explores the importance of having a pension for Irish citizens. During our research, we promptly realised that there was a wealth of data suggesting that the earlier a person invests in their pension, the wealthier they will be later in life.
It is what we all look forward to, our retirement, golfing or knitting, whichever floats your boat! But leaning on the government and expecting it to afford you to travel the world or look after your grandkids will be a long shot. To be in the best position you need to take your pension seriously and considering setting up a personal pension to compliment the state pension. By the time anyone above 30 retires, they will be amongst the largest ever group of pensioners in Ireland. As the infographic depicts, the average life expectancy in Ireland is on the rise, in line with most Western European cultures, and this means that by the year 2046, one in five Irish people will be over the age of 65.
The retirement age is steadily increasing since John Lennon sang about ‘When I’m 64’ in the 1960’s, already the retirement age is 66 and this will probably increase to 69 by 2035, so there are a wide range of implications of the average Irish citizen and Zurich Life are suggesting that acting as soon as possible is certainly the suggested action rather than holding off for another day to start taking your pension seriously.