Most Wicklow Residents Unprepared for Retirement, PTSB Research Finds

Just 18% of people in Leinster say they have a clear plan for retirement, compared with 23% nationally, according to the latest research from PTSB.

For County Wicklow, the picture is even more worrying, with 52% of respondents saying they are not confident they will be able to afford the lifestyle they want in later life.

The findings come from the Reflecting Ireland research series, carried out by Core Research, which explores attitudes to financial planning across the country.

The report highlights a worrying trend: commitment to long-term planning drops in middle age, just as financial planning becomes most critical.

Nationally, 45–54-year-olds are the least likely age group to have started a financial plan, while those aged 55–64 are most likely to have no plans at all.

The research also reveals gaps in financial literacy among Wicklow residents.

Over half (54%) are unaware of the €3,000 small gift exemption, which allows individuals to receive this amount tax-free from another person each year. Among those who have a plan in place, 44% have already transferred assets at an early stage.

Inheritance is another key factor shaping financial confidence in the county. About 51% of people expect to receive or have already received an inheritance.

Most of these are valued under €100,000, though a significant minority anticipate larger sums. Despite this, nearly half (47%) of those expecting an inheritance say they are at least fairly reliant on it for long-term financial goals, with savings and housing-related expenses topping the list of intended uses.

Gender differences are also stark. Just 42% of women in the research have started a financial plan, compared with 62% of men.

Only 40% of women feel confident about affording their desired retirement lifestyle, versus 57% of men. Women are also less likely to have considered key factors like tax implications or managing debt before retirement.

Leontia Fannin, Chief Sustainability and Corporate Affairs Officer at PTSB, said:

"Inheritance plays a major role in many people’s plans for later life, but the research shows that many are still worried about affordability and their financial future. Greater financial awareness and education, including understanding tools like the €3,000 small gift exemption, can help reverse this trend."

Claire Cogan, founder of BehaviourWise, added:

"It’s understandable that cost-of-living pressures dominate people’s minds, but long-term financial planning is crucial. Mid-life is a critical window to start preparing for retirement, and doing so can bring real benefits in later years."

For Wicklow residents, these findings are a clear signal to take stock of their financial plans—and not to rely solely on inheritance to secure the future.