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How much money will you need in retirement?

We’ve previously reported on the Retirement Living Standards, the guide to retirement income published by the Pensions and Lifetime Savings Association (PLSA), which shows the annual amounts needed to achieve different standards of living. Below is today’s amounts, but to have the same spending power when you retire, you’ll need to allow extra for future inflation.

PLSA standard Minimum Moderate Comfortable
Each year (after tax)
Single £12,800 £23,300 £37,300
Couple £19,900 £34,000 £54,500

To find out more, visit the PLSA website.

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