Retirement Living Standards: how will you meet yours?

The Pensions and Lifetime Savings Association (PLSA) has released its latest information on Retirement Living Standards, designed to help you understand the cost of the kind of retirement you want. This sort of research can help you to decide if you’re on track and whether you need to take action if you’re facing a shortfall.

The figures give a target income for three lifestyles: minimum, moderate and comfortable. They assume people are living outside London and are mortgage-free or rent-free in retirement.

Minimum Moderate Comfortable
£12,800 for a single person

£19,900 for a couple
£23,300 for a single person

£34,000 for a couple
£37,300 for a single person

£54,500 for a couple
A ‘minimum’ lifestyle covers all your needs, with some left over for fun and social occasions. You could holiday in the UK, eat out about once a month and do some affordable leisure activities about twice a week.

About three quarters of employees are likely to achieve at least the minimum standard.
A ‘moderate’ lifestyle provides more financial security and more flexibility. You could have one foreign holiday a year and eat out a few times a month. You’d have the opportunity to do more of the things you want to do.

Around half of employees are projected to have an income between minimum and moderate.
A lifestyle that allows you to be more spontaneous with your money. You could have a subscription to a streaming service, regular beauty treatments and two foreign holidays a year.

About one in six employees are projected to have an income between moderate and comfortable.

If you want to learn more about the research behind these figures and how much you ought to be saving for retirement, visit