Did you know? The UK Pensions and Lifetime Savings Association have just published their Retirement Living Standards for people in the UK. They’ve created a really useful video which will help you understand what income you need when you retire – take a couple of minutes to check it out: click here.

The PLSA’s research shows that only 23% of people understand how much they need to save. As part of their research, they asked consumers for their views on how much they would need to live on in retirement. This suggested that a single person will need £10,000 each year as a minimum income, £20,000 for a moderate standard of living and £30,000 to be comfortable. For couples, the equivalent numbers are £15,000, £30,000 and £45,000 each year.

For further information about the Retirement Living Standards head over to: https://www.retirementlivingstandards.org.uk