Retirement Living Standards
Introducing the standards
The Retirement Living Standards are aimed at cutting through the ambiguity that currently surrounds retirement planning. We want to help savers think in a practical way about the kind of lifestyle they might lead in retirement.
Like the ‘five a day’ or 5-a-day healthy eating maxim, the PLSA hopes the Standards will one day become a rule of thumb for retirement planning.
Roughly speaking, a single person will need about £10k a year to achieve the minimum living standard, £20k a year for moderate, and £30k a year for comfortable. Like 5-a-day, this can be briefly summarised as 10k-20k-30k. For couples, it's 15k-30k-45k.
By giving savers a general figure that they can understand, our hope is that savers can then start to develop their own personal targets based on their individual circumstances and aspirations.
We’ve created a series of examples to show what kind of living standard different people could have in retirement depending on their salaries, household and savings.
You can find these details and more by visiting our website by clicking on this link
Who to contact
- 020 7601 1700 020 7601 1700
Where to go
- Address:Pensions and Lifetime Savings Association
Number 24 - 6th Floor
- PE2 8TY
- View PE2 8TY on a map
Last updated: Over 6 months ago