Research has found that just one in five adults expect to fully retire and stop working in the traditional manner.
This research was carried out by Irish Life, who submitted the Life100+ Report, which is based on nationally representative research carried out over more than 2,000 adults, and looks into how the prospect of retirement of significantly longer lives will change working life, retirement planning as well as health and family finances.
The survey said that 27% of people who took part in it expect to gradually reduce their working hours, with just under a quarter expected to continue working part time.
It also found that there appears to be a broader acceptance that longer lives will mean longer working lives, with almost three quarters of respondents feeling they will need to work for longer to support themselves in later life.
One in three adults were found to be feeling confident about sustaining a longer life financially.
For those aged 65 and over, it was found that the preference was for a phased retirement to take place.
Reports also suggested that adults who are yet to retire had estimated that they would need an average pension pot of €315,000 in order to enjoy a comfortable retirement, against current retirement savings of €102,000.
The report also revealed that a quarter of participants said they would want to live to 100 years of age, amid concerns of failing health, loss of physical abilities and loss of mental abilities, ahead of concerns about running out of money.
Speaking about this, the chief executive of Irish Life, Declan Bolger said: "Ireland is moving from a society built around an 80-year life to one that must begin to plan for a 100 year life, and our Life100+ Report provides the clearest evidence yet that longevity is reshaping how people in Ireland intend to work, save and live".
"Expectations have already moved ahead of the structures around them," Mr Bolger added. "People have accepted longer working lives and a later, more gradual retirement, but confidence in funding those additional years is low, particularly amongst those closest to retirement". (All quotes according to RTÉ).
