Retirement Living Standards update shows the nation is not saving enough

As the Pensions Commission considers how to increase the nation’s retirement savings, Pensions UK’s updated Retirement Living Standards (RLS) underline that many people are not saving enough. The RLS are there to help people picture what lifestyle they expect in retirement and the costs associated with three different levels. The annual standards, calculated by the Centre for Research in Social Policy, Loughborough University, now show that a Minimum retirement lifestyle costs £13,900 a year for a one-person household and £22,500 for two people. A Moderate lifestyle costs £32,700 for one...