'Moderate' retirement living standards out of reach for majority as savers face 'cliff-edge'

Costs of minimum, moderate and comfortable retirement lifestyles have all risen

Holly Roach
clock • 4 min read

Pensions UK has updated its Retirement Living Standards (RLS), warning savers face a “cliff-edge” when they retire and just 9% are likely to reach a "comfortable" level of income.

The organisation said the annual standards, calculated by the Centre for Research in Social Policy at Loughborough University, show the cost of minimum, moderate and comfortable lifestyles in retirement have all increased – largely due to a rise in everyday costs across spending categories including household bills, transport, social activities and hobbies. Pensions UK said a minimum retirement lifestyle now costs £13,900 a year for a one-person household and £22,500 for two people, a moderate lifestyle costs £32,700 for one person and £45,400 for two, while a comfortable lifestyle costs...

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