How much money will you need in retirement?

The Retirement Living Standards is a 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.  

The PLSA has released updated figures. These are today’s amounts, but to have the same spending power when you retire, you’ll need to allow extra for future inflation.

	For a single person	For a couple
Minimum: covers all your needs with some left over for fun	£14,400	£22,400
Moderate: more financial security and flexibility	£31,300	£43,100
Comfortable: more financial freedom and some luxuries	£43,100	£59,000

To find out more, visit Retirement Living Standards.