NEST: 'Comfortable' retirement income is £15k

Carmen Reichman
clock

People managing to achieve a retirement income of £15k per year will be "comfortable", according to a report by the National Employment Savings Trust (NEST).

The organisation said it found a "significant shift in quality of life" among retirees living on a household income of between £15,000 and £20,000 a year, compared to those with less. However, that heightened sense of wellbeing leveled off at around £40,000 a year, it added. NEST said this suggested the average auto-enroled worker would be able to save up enough over their working life to get close to a comfortable retirement. The research looked at pensioners' ability to afford everyday household bills as well as their sense of satisfaction with life, among other factors. NEST ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

How annuity underwriting needs to change to meet Consumer Duty

How annuity underwriting needs to change to meet Consumer Duty

'This is an industry systematically delivering poor outcomes'

Andrew Gething
clock 24 June 2025 • 4 min read
Annuities in a post-freedoms world: The need for rebranding and repositioning

Annuities in a post-freedoms world: The need for rebranding and repositioning

‘The challenges facing today’s retirees are intensifying’

Steve Butler
clock 22 May 2025 • 4 min read
Legal & General goes digital for annuity applications

Legal & General goes digital for annuity applications

Applications could take 14 fewer days to process

Jenna Brown
clock 01 April 2025 • 1 min read