Irish Funds Announces Next Phase of Transition Year Programme to Enhance Financial Literacy Among Students

• Over 1100 students across Ireland have benefited from the programme since the pilot in 2022 .

• Fifteen schools have already signed up to the free industry-led programme with a very strong pipeline and plans for further regional expansion.

• Nearly half of Irish adults lack the minimum financial literacy necessary for effective money management.

Irish Funds, the industry association for the funds and asset management industry, has announced the next phase of its successful Transition Year Programme, an interactive educational initiative designed to enhance financial literacy, digital finance, sustainable investing, and essential life competencies among students across Ireland.  

Launched in 2022 as a pilot across 12 schools in Ireland, the programme has seen notable growth in that time, expanding to 18 schools in 2023/2024 across 10 counties and reaching over 800 students. Participating counties last year included Galway, Sligo, Roscommon, Offaly, Limerick, Cork, Tipperary, Wicklow, Louth, and Dublin. Fifteen schools have already committed to taking part in this innovative programme for this academic year - six in Dublin and nine in regional areas. 

The Transition Year Programme is delivered in classrooms by lead facilitator Eibhlin Johnston and dedicated industry volunteers from across the country, making it a robust and engaging learning experience for students. 

While visiting a recent programme session at Loreto Balbriggan, Joe O’Brien T.D., Minister of State for Community Development, Integration and Charities said: "I welcome the continued growth of the Irish Funds Financial Literacy Transition Year Programme, which is making a meaningful impact in classrooms across the country. With nearly half of Irish adults lacking the minimum financial literacy necessary for effective money management, this initiative is a vital step toward bridging that gap. By equipping our students with essential financial knowledge, digital finance skills, and insights into sustainable investing, we are preparing them for brighter financial futures. I commend Irish Funds and its industry volunteers for their dedication to fostering financial empowerment among Ireland’s youth." 

“Separately, I oversee the Roadmap for Social Inclusion in the Department of Social Protection and under Goal 2 of that Roadmap there is a commitment by the Department of Finance to develop a Financial Literacy strategy and to identify gaps in financial literacy provision and target groups for interventions. It is heartening to see this topic take a central role in a number of ways to ensure we reach as many people as possible with the tools to build this critical life skill.” 

“We are excited to see the Transition Year Programme expand, reaching more students and empowering them with the knowledge and tools they need for their financial futures," said Pat Lardner, CEO of Irish Funds. “A recent EU survey referenced in the Funds Sector 2030 Report points to low levels of financial literacy, with data indicating that 43% of adults in Ireland lack the minimum financial literacy necessary for effective money management. Our goal is to help bridge the financial literacy gap in Ireland, which is essential for increasing household investing rates and laying the groundwork for long-term financial wellbeing.”  

“We welcome the forthcoming publication of a National Financial Literacy Strategy for Ireland and look forward to engaging in the implementation of its recommendations to improve financial literacy across the country.” 

Irish Funds developed this unique financial literacy programme for Transition Year students, that combines financial literacy, life skills and real-life funds and asset management examples. The programme also includes digital finance and sustainable investing, two areas identified by the OECD as competences that are particularly relevant in the future. The six interactive modules are brought to life using real examples presented in the class by funds and asset management industry experts. 

The importance of this initiative is underscored by stark statistics, which indicate that only 57% of adults in Ireland meet the minimum OECD level of financial literacy, capable of managing their day-to-day finances and considering their long-term financial wellbeing. Furthermore, 44% of the adult population do not possess the minimum level of digital financial literacy required to navigate their finances in today's increasingly digital world. These staggering statistics led Irish Funds to develop the TY Programme to instil the importance of financial literacy among students. 

This year, Deloitte has come on board again as a sponsor of the Irish Funds Financial Literacy Programme, reaffirming its commitment to championing financial literacy education across Ireland "We are proud to continue in our role as sole sponsor for a second year in supporting the Irish Funds Financial Literacy Transition Year Programme and contributing to the vital work being done to improve financial literacy among young people," said Niamh Geraghty, Partner and Head of Investment Management at Deloitte. "Investing in education today lays the groundwork for a financially literate and empowered generation in the future and complements our World Class global ambition of impacting 100 million people by 2030." 

As Irish Funds embarks on this next phase of the Transition Year Programme, the organisation remains dedicated to fostering financial literacy among Ireland’s youth, ensuring they are well-equipped to navigate the complexities of the financial landscape. 

Find out more about the Irish Funds Transition Year Financial Literacy Programme.