No pension for 65% of agri, forestry and fishing employees - report
65% of employees in Ireland’s agriculture, forestry and fishing sector have no pension, according to a new report.
The research was carried out by financial firm, GSB Capital Ireland ahead of the government's auto-enrolment pension scheme, known as My Future Fund, beginning on January 1, 2026.
The scheme is set to target upwards of 800,000 private sector employees who are not paying into an occupational pension.
Pension
Due to the high target figure, GSB Capital Ireland decided to examine which economic sectors in Ireland are most in need of the scheme.
The financial advisers examined data from the Department of Finance, the Central Statistics Office (CSO), and the Competition and Consumer Protection Commission (CCPC).
By assessing the latest CSO pension survey (Q3 2024) by sector, GSB Capital Ireland discovered that the following sectors are Ireland’s least prepared when it comes to occupational pension cover:
| Sector | Number of employees | Percentage of employees without a pension |
|---|---|---|
| Agriculture, Forestry and Fishing | 112,900 | 65% |
| Accommodation and Food Service Activities | 200,000 | 45% |
| Professional, Scientific and Technical Activities | 202,200 | 43% |
| Construction | 176,300 | 41% |
| Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles | 323,500 | 35% |
The analysis found that 65% of the 112,900 people employed in the agriculture, forestry and fishing sector do not have a pension.
The sectors with the highest uptake were public administration and defence; compulsory social security (80%), education (76%), and financial, insurance and real estate activities (76%).
Michael Cunningham, managing director of GSB Capital Ireland, believes the findings demonstrate Ireland’s need for the auto-enrolment scheme.
“As we can see, there are a lot of employees without occupational pensions who will end up dependent on the state pension, which currently stands at a maximum rate of €289.30.
"This underlines the importance of the auto-enrolment scheme. It will ensure that employers match employee contributions, with the government contributing an extra one-third," he said.
Employees
GSB Capital Ireland also outlined the main reasons why employees did not have a pension, with the top three reasons as follows:
- Employer does not offer a company pension scheme: 53%
- Have chosen not to join employer's pension scheme: 23%
- Not eligible to join employer's pension scheme: 15%
“A recent CCPC report found that 36% of pension holders are unsure how pensions work, while 66% of have never spoken to a financial adviser.
"So, while the immediate onus is on employers and ensuring their employees avail of the auto-enrolment scheme, people should also speak to an adviser to make sure they get the most out of their pension," Cunningham said.
