More and more will be relying on the State pension in the coming years...
Just 47% of employees in Ireland have a private pension, according to the Central Statistics Office's newly-published Pension Provision report.
Women are also less likely than men to make financial provisions for their retirement, with only 46% having plans in place.
This is a notable drop from 2009 figures that showed that then 51% of workers had provided for a pension, and 49% of women.
The new numbers are particularly low for some of the nation's youngest workers.
A little over 14% of workers aged between 20 and 24, and 36% of those between 25 and 34, have pensions.
Of the overall number, 38.9% of people claimed they could not afford a pension.
Those who have "never got around" to organising pension accounted for 22.1%, while almost 5% of people admitted they didn't understand pensions.
The findings were taken from the Quarterly National Household Survey, conducted over the last quarter of 2015, and covered most types of pension.
Ciarán Phelan, CEO of the Irish Brokers Association, told the Irish Examiner that the report has "spelt it out the Government must give attention to the issue of retirement funding, or lack thereof.
"The State has a duty".
Warnings have been issued across Europe about the high cost that could be placed upon governments and the risk of many people facing poverty when they reach retirement age if this trend is not reversed.
A 2014 report by the Organisation for Economic and Co-operation and Development (OECD) argued that Ireland's spending on pensions "will be comparatively low" compared to other OECD, thought there will be "large projected increases" over the next half a century.