The Big Question
Every Irish person approaching retirement asks the same question: "How much do I actually need?"
The answer isn't a single number. It depends on:
- Your desired lifestyle
- Whether you own your home
- Your health and healthcare needs
- When you want to retire
- What income sources you'll have
But here's the good news: we can calculate a realistic target.
The 2026 Numbers
State Pension
The Irish state pension (contributory) in 2026 is approximately €289.30 per week for a full contribution record. That's about €15,044 per year.
However, many people won't qualify for the full amount. The average Irish retiree receives about 80% of this.
The Replacement Rate Rule
Financial advisors often recommend replacing 66-80% of your pre-retirement income. If you're earning €60,000, that means €40,000-€48,000 per year in retirement.
The Simple Math
For a comfortable retirement in Ireland (single person, 2026):
- Monthly expenses: €2,500-€3,500
- Annual needs: €30,000-€42,000
- Less state pension: -€15,000
- Gap to fill: €15,000-€27,000/year
Using the 4% safe withdrawal rule, you need:
- €375,000-€675,000 in savings/investments
For Couples
Double the expenses but factor in:
- Shared housing costs (don't double these)
- Two state pensions
- Potential for smaller individual retirement pots
Couple target (comfortable): €500,000-€900,000
The Wild Card: Your Home
Owning your home mortgage-free is essentially worth €200,000-€400,000 in your retirement fund, because:
- You're not paying rent or mortgage
- You have a potential asset to downsize or equity release
If you own your home: reduce your target by 20-30%.
Not sure whether to pay off your mortgage or invest? Read Should You Be Mortgage-Free Before Retirement?
What About Healthcare?
Ireland's public healthcare system has gaps. Budget for:
- Private health insurance: €2,000-€4,000/year
- Dental work: €500-€1,500/year
- Unexpected medical costs: emergency fund
The Timeline Factor
Retiring at 66 (state pension age)?
- You need less capital (shorter retirement)
- State pension kicks in immediately
Retiring at 60?
- 6 years without state pension
- Need extra €90,000-€160,000 to bridge the gap
- Or accept a smaller withdrawal rate
Interested in early retirement? Read our guide on retiring at 60 in Ireland.
Action Steps
- Calculate your number - Use our free quiz to get your personalized target
- Check your state pension entitlement - Get a statement from the Department of Social Protection
- Track your current savings - Create a free RetiroAI account to see where you stand
- Mind the gap - If you're behind, you have options (work longer, save more, or adjust expectations)
The Bottom Line
For most Irish people planning to retire at 66:
- Single, modest lifestyle: €300,000-€400,000
- Single, comfortable lifestyle: €500,000-€700,000
- Couple, comfortable lifestyle: €600,000-€900,000
These are targets, not guarantees. But they give you something to aim for.
Want to know your personal number? Take our free 2-minute quiz and see exactly where you stand.