Irish Funds, the industry association for the funds and asset management industry, has today announced the continued expansion of its transition year programme at St. Eunan’s College and Loreto Letterkenny, 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. Since September, 18 further schools participated across the country, including Donegal, Tipperary, Athlone, Waterford, Offaly, Dublin, Wicklow, Carlow, Cork, Westmeath and Limerick.
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.
“We are excited to see the Transition Year Programme expand to Donegal, reaching more students and empowering them with the knowledge and tools they need for their financial futures,” said Pat Lardner, CEO of Irish Funds.
“An EU survey referenced in Ireland’s National Financial Literacy Strategy 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 very much welcomed the recent publication of the 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.
As Irish Funds continues to rollout 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.
For more information about the Irish Funds Transition Year Programme, please visit: https://www.irishfunds.ie/careers-education/financial-literacy/.
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