A quarter of farmers who took part in a national survey said that their children are not interested in taking over the family farm.

That is among the findings of the Irish Farm Report 2025, published today (Thursday, Janaury 16) by farming, food and agri-business specialist professional services firm, ifac.

Marty Murphy, ifac head of tax, said the result was not surprising as the farming lifestyle may not appeal to the next generation.

"That figure is a sharp increase from the previous year, and growing: today, it’s the number one challenge for succession planning, an unprecedented act since we started the Irish Farm Report, seven years ago," he said.

1 in 8 farmers reported that the next generation have "no interest in the business at all, or the lifestyle that comes with it".

The survey also highlighted the ability of the average Irish farm (34ha) to support more than one family.

1 in 5 farmers who took part in the survey said that the farm just does not generate enough income to support two generations at the same time.

Murphy noted that while this is better than two years ago, it remains "a major roadblock" when it comes to succession.

On a positive note, the survey shows that nearly 1 in 3 farms now have a farming successor.

However, one fifth of respondents do not have a successor at all which ifac said "leaves a lot of farms in limbo".

Half of farmers in partnerships have a clearly defined successor, which the report said "clearly shows this a model that helps succession".

Murphy said that for for many farmers, succession planning is still "a big unknown", but more families are "tackling tough conversations".

He said that for most farm families "succession is not a single event but a journey – one that can span years".

The survey also found that 65% of farmers were unaware of the Succession Planning Advice Grant (SPAG).

The scheme provides up to €1,500 to help farmers aged 60 years and above to seek succession planning advice.

While the report also highlights that 1 in 3 famers aged over 50 do not have a will in place.

Martin Glennon, ifac head of financial planning, said that "the future of family farms faces challenges".

"Succession involves balancing family dynamics, finances, and farm viability. Without a pension plan, farmers rely on the farm for retirement, increasing the pressure," he said.

Over a fifth (23%) of farmers who took part in the ifac survey admitted they have no pension in place.

A further 12% said they were unsure, while 22% admitted they were not confident in their pension provision.

Only 34% of farmers felt somewhat confident, and an even smaller group expressed full confidence in their retirement income.

"Our survey results should be a wake-up call to all farmers putting off the inevitable. Too many farmers are overlooking the importance of pensions, leaving their financial futures – and the future of their farms – at risk," Glennon said.

He added that pensions should be viewed as more than just a tax tool, "they are a foundation of financial independence".

"A well-structured pension plan can be transformative in managing the challenges of farm succession.

"It allows retiring farmers to step back without relying solely on the farm’s income, which can be a game-changer for families facing succession pressures," he said.