16 Aug 2022

Kilkenny's vaccinated retirees back on track but survey reveals financial woes await

Life for Kilkenny's vaccinated retirees back on track but survey reveals money woes

Kilkenny’s 25,000+ over 55s to start considering their financial options post-Covid

According to a new nationwide survey from Spry Finance, 42% of those in or approaching retirement have no expectation of being financially comfortable in their post work years.

The findings have been released on the back of Ireland’s nationwide COVID-19 vaccination programme, which Spry Finance says is causing people of a certain age to consider new options in terms of how they live their life, and how they might fund this lifestyle, as the world returns to ‘normal’.

Speaking on the findings Aidan Horgan of Spry Finance stated that "in Co. Kilkenny alone, there are approximately 25,407 people over the age of 55 a large portion of these people having insufficient funding plans in place for their retirement.

"However, a similarly large portion of these people own their own their own home and have a significant amount of equity tied up in this.”

Other highlights from the survey include:

  • 23% of respondents who have already retired rely exclusively on the State pension for income
  • 31% of those still working expect to rely solely on the State pension in retirement

Spry Finance say the survey results demonstrate that limited cash reserves are a barrier for near or current retirees from living the life they had envisaged in retirement.  

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