More of us than ever are saving in a workplace pension. We now have more information, more choices, and more responsibility for our retirement savings, but will the future you want at retirement be possible?

The Pensions and Lifetime Savings Association (PLSA) has suggested the income that’s needed (after tax) to achieve the three following standards of living.

These figures will be subject to change in the future, as the cost of living increases.

These standards show a range of common goods and services you would be able to afford at each level. Read more about the PLSA retirement living standards on their website.

Remember to take into account any other workplace pensions you may have built up throughout your career and any personal pensions you may hold. You should also include the State Pension, which is payable from your State Pension age. For many people their workplace and State pensions, and other savings, could go a long way towards these costs. To get a forecast of your State pension, go to the Government website.

You will need to get a clear picture of any outgoings you expect to pay. Depending on your circumstances, this could include mortgage, rent, social care costs and any tax on pension income you might be liable for on top of day-to-day costs for bills, travel and socialising.

You can use the Scheme modeller to estimate what your benefits may be worth. If you think you’re not on target, you can increase the level of contributions you are making. Visit the contributions page to find out more.