Turning data into dialogue: Helping clients visualise retirement realities

The Pensions and Lifetime Savings Association (PLSA) has updated its Retirement Living Standards for 2025, offering a timely opportunity for financial advisers to engage clients in meaningful retirement planning conversations. These standards provide a clear, relatable framework for understanding the cost of retirement at three lifestyle levels: minimum, moderate and comfortable. The income required for the minimum retirement lifestyle for a single person has dropped by £1,000 to £13,400 per year, reflecting lower energy prices and changing spending habits. The income required for the...