Pension portraits – starts with a sketch

The Pensions and Lifetime Savings Association (PLSA) has developed the Retirement Living Standards, quick sketches of the kind of retirement lifestyle you could have with different levels of income.

We realise it’s a difficult time for managing money, with the cost of so many things going up. We want to help you have a clearer picture of what you could be doing to get the kind of retirement lifestyle you want. So over the next few weeks, we’ll look more closely at the Retirement Living Standards and how to apply them to your own life. 

e next few weeks, we’ll look more closely at the Retirement Living Standards and how to apply them to your own life. 

Sketching it out

These are the amounts the Retirement Living Standards suggest for a ‘minimum’, ‘moderate’ and ‘comfortable’ retirement lifestyle for a single person and a couple. They were worked out based on how much a range of common goods and services costs. They don’t include mortgage or rent, and are based on people living outside London.

You can find out more on the Retirement Living Standards website.

Paint your own picture 

Different people will have different ideas about what these lifestyles mean. Some people could live happily on the minimum level and others might want more. We want to help you paint your own picture of your future lifestyle, based on your own situation.

Have a look at our Lifestyle Portraits infographic for more details about what retirement looks like at the three different levels.

Watch this video from the PLSA which gives a simple overview of the standards.