Retirees aiming for a moderate or comfortable lifestyle will need to budget slightly more, according to the Pensions and Lifetime Savings Association (PLSA). A moderate retirement now costs £31,700 a year for one person (up £400) and £43,900 for a couple (up £800).
For a comfortable lifestyle, a single person needs £43,900 annually, an £800 rise, while a couple requires £60,600, up £1,600.
In contrast, the cost of a minimum retirement has fallen. A single person now needs £13,400 a year (down £1,000), and a couple needs £21,600 (down from £22,400).
The PLSA links these shifts to lower energy costs and changing expectations around retirement.
Full info obtained here
