5th May 2022: A new survey carried out by the Retirement Planning Council of Ireland (RPC) found that 73% of respondents felt that lockdowns during the Covid-19 pandemic provided some insight into what retired life might be like.
The survey was carried out amongst participants of the RPC’s ‘Planning for Retirement’ courses in late 2021 and early 2022.At the time of being surveyed, 87% of the respondents had not yet retired. Of this cohort, many adapted to remote working practices or spent time out of work and in receipt of the Pandemic Unemployment Payment (PUP) throughout 2020 and 2021.
Having spent more time at home and in their locality during the pandemic, respondents were asked about what lessons they had learned during the pandemic that might help them to better prepare for their retirement.
The need for social interaction and routine emerged as common themes, with the most popular responses falling into the following categories:
- The importance of daily planning and establishing a routine;
- Focusing on staying active; and
- Staying connected with friends and family.
Laura Farrell, CEO of the Retirement Planning Council of Ireland said:
“Those approaching retirement or who have retired during the Covid-19 pandemic have had a unique experience and introduction to retired life. For those planning to retire soon, lockdown provided first-hand experience of what retirement might look like. It also provided people with the opportunity to think about their retirement and to consider putting necessary plans in place to make their time more purposeful.
One of the key takeaways from the survey results is the learnings from pre-retirees. While the pandemic presented challenges for this cohort, and indeed for all age-groups, they have been afforded a unique opportunity by gaining an understanding about how retired life might look. For many, this was a wake-up call, as they came to understand that planning is central element to a successful retirement.”
The Retirement Planning Council offers a hybrid blend of virtual and live delivery of the holistic, pre-retirement courses, using an eLearning platform, RPCLearn, as well as in-person sessions offered in various locations across the country.
