Retirement age in Ireland: everything you need to know

Retirement marks a significant life milestone, providing the opportunity of a well-deserved break after years of hard work. But have you thought about when you’ll be able to retire? Understanding how the Irish pension age could affect you is a key step when it comes to preparing for retirement.

On this page, you’ll find out the current retirement age in Ireland, how pensions could change in the coming years, and ways to build up a financial nest egg for your retirement years.

In Ireland, the state pension age is 66, but your actual retirement age might not necessarily match that. While there isn’t a fixed retirement age set by law, many employers have their own policies.

Although the average retirement age in Ireland is 65, you can continue working beyond that if you want to. Some people might prefer to reduce their working hours and go part-time so that they still have money coming in. New legislation will make it easier for employees to continue working until they qualify for the state pension at 66. This means that employees are less likely to need an additional benefit to bridge the gap.

If you’re unsure whether you have to retire at a certain age, it can help to consider your employment situation. For those who are self-employed, there’s no set retirement age. However, if you’re a regular employee, you might find your employment contract specifies an end date or a mandatory retirement age.

There are some roles, such as prison officers and members of the Garda Síochána, Defence Force, and Fire Services, where the retirement age is defined by law. The mandatory retirement age in Ireland varies across professions, and for some, it is set to increase. For instance, the Garda retirement age is expected to rise from 60 to 62.

There are separate rules for public sector workers, where your retirement age depends on when you started working in that role.

You can claim your contributory state pension (previously known as the old age pension in Ireland) between ages 66 and 70 if you’ve ever worked in Ireland and made enough pay-related social insurance (PRSI) contributions. To qualify, you must have entered insurable employment before turning 56 and met the required contribution thresholds.

If you don’t meet the requirements for the contributory state pension, you might still be eligible for a means-tested state pension, which is available to Irish residents over 66.

To work out exactly when you’ll qualify for your state pension, you can find further information here: contributory state pension.

While the current state pension age in Ireland is 66, there are suggestions that this age will gradually increase. The government initially planned to increase the state pension age to 67 by 2021 and 68 by 2028, but this decision was later reversed. There have been new proposals for a three-month increase each year, starting in 2028, which would bring the state pension age to 68 by 2039.

These proposals are still under discussion and have not yet been confirmed. However, with an ageing population meaning more people are starting to claim pensions, the pension age in Ireland is a frequent topic of debate.

Other changes have been introduced to offer more flexibility when it comes to the retirement age in Ireland. Although the state pension age is 66, you don’t have to retire at that age. If you apply for the state pension at age 66, you have the choice to delay receiving it until you turn 70. In return, you may qualify for a higher pension payment rate. This could be particularly beneficial for people who started working later in life, providing an opportunity to make additional contributions and boost their retirement savings.

If you’re employed, your contract likely specifies a mandatory retirement age of 65, although there are some options for early retirement in Ireland. Many employment contracts offer the option of retiring early, typically starting at age 60, and sometimes even as early as 55. Also, most contracts will let you retire early due to health reasons.

To apply for the contributory state pension, you have a few options. You can pick up an application form from your local post office. Alternatively, you can download and print the state pension application form yourself. Keep in mind that you cannot apply online.

It is recommended that you apply for the state pension three months before you turn 66. If you’ve paid social insurance in more than one country, you should start your application six months before. If you wait too long and don’t apply within six months of becoming eligible, you might miss out on some payments.

The retirement age in Ireland ranks among the top five highest in Europe. Some nations, like France, have relatively low retirement ages, with people eligible to retire as early as 62. On the other hand, countries such as Iceland and Norway have much higher retirement ages, with retirement typically set around 67 or even 70 years old. Similarly, in Germany, the retirement age will be gradually increased and reach 67 by 2029.

At the other end of the scale, Saudi Arabia stands out with the lowest age requirement at just 47 years for full pension benefits, closely followed by Türkiye at 52 years. However, in practice, people tend to retire much later in both countries. This trend is mirrored across various regions globally. For instance, in Asian countries like China, India, and South Korea, the official minimum retirement ages range from the early 60s to the late 50s, yet workers often continue working well into their late 60s.

Whether you want to retire at 55, 60, or 65, you’ll naturally be thinking about whether you can afford to retire and how to do so. With people living longer, spending 20–25 years in retirement is becoming the norm. This is why it can be a good idea to save efficiently while you’re still working to ensure a comfortable lifestyle in retirement.

Saving into a pension can be one of the most tax-efficient ways to save for retirement, and by starting early, you can take advantage of compound interest. However, it's worth noting that there are other options available.

Investing is another way to save money, but it involves more risk. Investing in bonds or stocks and shares is often seen as a long-term plan. While it has the potential for high profits, remember that there’s no guarantee of returns, and the value of your investments could go down.

If you have shorter-term savings goals or think you might need access to your funds, a savings account may be a good option. With Raisin Bank, you can create a savings plan to automate your transfers and build a savings pot for your future. Compare rates from a range of banks and find a savings account to suit your needs.