Comfortable retirement target £250,000 higher for single people

Single pensioners face ‘uphill hike’ compared to couples

Holly Roach
clock • 1 min read

Single pensioners need £257,000 more than couples to achieve a comfortable living standard in retirement, according to analysis by Standard Life.

The provider revealed against the Pensions and Lifetime Savings Association's (PLSA) Retirement Living Standards (RLS), a pensioner couple would need £418,000 per person for a ‘comfortable' retirement while a single pensioner would need £675,000 - a £257,000 difference. For a ‘moderate' living standard - based on a securing a single life annuity - a single pensioner would need £160,000 more than pensioner couples, and £53,000 more for a ‘minimum' standard with pensioner couples having enough through two state pensions to achieve a minimum standard, according to Standard Life. The firm...

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