A Clare financial advisor believes the cost-of-living crisis is forcing people to forego paying into a pension fund.
A new survey from the Competition and Consumer Protection Commission found “concerning gaps” in retirement planning, with just 76% of people aged 45 to 54 having a retirement financial plan in place compared to 90% of those between the ages of 45 to 64.
The research shows that one in four of respondents claimed their lack of preparation is because they simply cannot afford the contribution.
Tommy Corbett of Carey Corbett Financial Solutions in Ennis says increased financial pressure means people are not prioritising planning for the future.
You can listen to the full interview below.
