Mind the Retirement Gap: What the Data Is Really Telling Us
When people think about retirement, they usually picture more time, more freedom and fewer pressures. Time to enjoy family, to travel, to focus on the things that matter. It’s a positive vision, and it’s one most of us quietly share.
The data behind our Mind the Gap campaign helps show how achievable that vision can be, especially when people are given the chance to plan for it.
One of the key figures highlighted in the campaign is that many people in Ireland may end up with around 45–50% of their final working income in retirement if they rely mainly on the State Pension and existing workplace pensions. On its own, that number doesn’t tell the whole story, but it does provide a helpful starting point. It reminds us that the State Pension is a strong foundation, not a full replacement for a salary, and that small, additional steps can make a real difference over time.
Put simply, this could mean having around half of your working income to live on in retirement. Knowing this early gives people something incredibly valuable: choice. It allows you to think about how you’d like to live in later in life and what kind of income would support that, whether that means more travel, helping family, or simply enjoying day-to-day comfort.
What the Mind the Gap data shows most clearly is not a problem, but an opportunity. The earlier people begin to engage with retirement planning, the easier it becomes. Pensions work best when time is on your side and even modest, regular contributions made over many years can grow into something meaningful, because they have the chance to build steadily and benefit from long-term growth.
That’s why conversations about pensions are changing. Instead of being something people have to actively seek out, saving for retirement is increasingly becoming part of everyday working life. And that’s a positive thing. It means more people will have a financial cushion that goes beyond the basics and supports the kind of lifestyle they hope to enjoy later on.
The Mind the Gap campaign is really about awareness. It gives people a clearer picture of how retirement income works and encourages them to look ahead with confidence rather than uncertainty. Understanding that there may be a gap between what the State provides and what you might want doesn’t limit you, it should empower you to fill that gap in a way that suits your life.
Retirement is something to look forward to and with a little planning, started early and built up over time, you can ultimately plan for the future that you want.
For more information on our Mind the Gap campaign click here.