The chief executive of the Pensions Board, Anne Maher, has rejected criticism that the new PRSA pensions have had little impact.
Speaking at the publication of the Board's annual report, Ms Maher said PRSA's were a long-term plan.
Launched in April, Personal Retirement Savings Accounts are designed to provide portable and flexible private pensions.
The first assessment of their take-up is expected at the end of this month. From September all employers must provide access to a PRSA provider for their employees.
Anne Maher also said a review of the funding requirements for company pensions is underway and the Board is inviting submissions from employers and unions.
This is in reaction to deficits in company pension funds, which have emerged due to falling stock market returns over the past three years.
A survey by the Pensions Board found that 70% of Irish defined benefit schemes (where the employer takes the risk) are still open to new entrants.
Just 50% of the workforce is covered by a pension. Half of those in the private and commercial semi-state sector pay into a defined contribution scheme, where the employee takes the risk.
