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Aircrew at low cost airlines such as Ryanair, Wizz Air have serious retirement planning concerns

British Airways Photograph: Simon Dawson/Reuters

Ryanair offers “no pension and no insurance” as one employee at Ryanair disclosed in March 2021 on a website called glassdoor, along with many others who said “no pension contributions provided by the company” or healthcare.

According to UK regulations, all employers must contribute 3% of the employee’s annual salary but in Ireland this is not the case. There is no legal obligation on an employer to set up or contribute to a pension scheme.

Those who are on short term contracts have to develop their own retirement plans, no matter which airline they work for.

As more and more airlines are going low cost, they are also looking for staff who are prepared to accept lower salaries andno benefits. Big airlines face major cost issues and are generally paying high salaries and pensions to their veteran pilots.

Ryanair is a big name in the industry and have managed to increase their revenue by 10.30% in revenue over 2019/20 period with a net profit of €648m but will face a loss of almost a billion for the 2020/21 period.

Your future welfare in retirement is as important as your current financial situation. You work many hours and are dedicated to your employer, making billions for them but at the end of your working career you deserve to not have to worry about your financial situation. In your 30s and 40s, you can still get a job. In your 70s, you won’t be able to.

We have been working with airline pilots and cabin crew for over 25 years, providing different retirement solutions available on the market. The most popular is the 12-month Fixed Income Plan (renewable). This is a very short term plan, which allows you to gain access to your cash should it be needed instead of locking it up for many years. The plan earns 10% interest per year. You can decide whether you want to receive the interest every three months directly into your bank account or opt for accumulated interest. This means that you can leave the interest in the plan and earn interest on it for the following 12 months. If you would like more information contact us to receive the 12-month Fixed Income Plan factsheet.

Alternatively, start your own regular contribution plan. The S&P 500 Index regular contribution plan recommended by Warren Buffet as a perfect low-cost savings investment. The regular contribution plan guarantees your capital not reduce in value and provides a minimum 4% growth per year or the return of the S&P 500 Index, whichever is the greater. Over the last 20 years the S&P 500 Index has provided an average annual return of 8.5% per year. It invests directly into the S&P 500 Index with a 24h online platform. Click here to request more information.

For more information about the available savings and retirement products please click here or email us at

For more information about the available savings and retirement products on the market please click here or email us at


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