Survey reveals lack of awareness of PRSA scheme
A new survey has revealed an alarming lack of awareness around the Government's new Personal Retirement Savings Account scheme.
Just 6% of adults could name the scheme, which arrives early this year and is aimed at the large number of people with no private pension.
The report into the attitudes and habits of Irish adults towards personal finance was carried out by Lansdowne Market Research for Royal Liver.
It shows that when asked to name any new Government savings scheme, only 6% of those surveyed mentioned the PRSA scheme.
Even when they were made aware of the scheme the majority admitted they had never heard of it.
The report also found that nearly 250,000 adults do not have a bank account or own financial products.
The average person believes he or she will need a pension of over €28,000 a year to survive when they retire, and almost half believe some form of compulsory pension scheme is needed.
The survey seems to reinforce the view that most people are not interested in personal finance issues or find them difficult to understand.
