One third of people facing a drop in retirement standards

One-in-three have moved from the PLSA ‘moderate’ to ‘minimum’ living standards

Jasmine Urquhart
clock • 3 min read

One in three savers have moved from an expected ‘moderate’ retirement lifestyle to a ‘minimum’ lifestyle, according to analysis by Wealth Wizards.

The financial planning firm analysed data from more than 40,000 users of the Wealth Wizards Pension Guidance Software as a Service (SaaS) platform and found almost one in five pensioners are not on track for the living standards they would like in retirement. Additionally, the analysis of the data gathered over the last two years found one in three individuals previously on track for a ‘moderate' standard of retirement - as defined by the Pensions and Lifetime Savings Association's (PLSA) retirement living standards - are now on track for a ‘minimum' standard. The data showed since 20...

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