Almost three-quarters (72%) of Ireland's working population aspire to retire by age 60 or sooner, according to the Retirement Aspirations survey from Royal London Ireland.

Four in 10 (38%) said they would retire at 50 or sooner if they could, and 34% said 60 would be their ideal retirement age.

However, 7% of respondents to the survey said they never want to fully retire, rising to 11% of respondents over 55, and 6% are prepared to continue working until 70.

Just 15% or one in six said that the State pension age of 66 would be their ideal retirement age, and 12% said they'd stop working today if they could, although there has been a 6% decrease in the number of people who would immediately stop from the previous survey.

"We asked this same question in 2023 and we found that in both 2023 and 2025, 60 is the most popular retirement age, chosen by over one-third of respondents," said Mark Reilly, pension proposition lead at Royal London Ireland.

"However, we found a notable eagerness for early retirement in even greater numbers this year with 26% wishing to retire at 50 (up from 21% in 2023).

"Not everyone shares the same enthusiasm for early retirement though. A significant cohort are content to wait until they reach the State pension age or to work until they’re 70.

This reflects the benefits that continued employment can bring, such as financial security and personal fulfilment.

"Moreover, almost one in ten of those surveyed never want to fully retire. For many individuals, working provides purpose, identity, and a daily routine that contributes significantly to their overall well-being and life satisfaction."

Additionally, the survey found that more men (14%) than women (10%) would retire now if they could, but more women (29%) than men (23%) would prefer to retire at the age of 50.

Those closest to retirement show the highest inclination to continue working, with 11% of individuals over 55 expressing a desire to never fully retire, compared to 3% among those aged 45–54 and 6% among those aged 25–34.

A fifth (20%) of those living in Leinster, excluding Dublin, are content to wait until the State pension age of 66 to retire in contrast to just over one in ten (11%) of those living in the Connacht-Ulster region.

"Our latest survey on retirement aspirations indicates a growing preference for early retirement, with an increasing number of people wanting to retire by 50," said Reilly.

"However, people often underestimate the amount of savings required for a comfortable retirement and the expenses they will face during this phase of life.

"For those aiming to retire early, it's crucial to have a realistic understanding of their financial needs and the time available to build sufficient savings to cover what they’ll need in retirement.

"As individuals approach retirement, they become increasingly aware of these financial realities.

"The survey reveals that a significant portion of older individuals express a desire to remain working, suggesting that these individuals recognise the benefits of maintaining a steady income and delaying the drawdown of their retirement savings," he added.

"Furthermore, with people living longer, the retirement period can span decades, requiring a larger financial cushion to maintain a comfortable lifestyle and cover potential healthcare costs."

(Pic: Getty Images)