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Cancer Research UK Retirement Plan


How long your savings will need to last


How long do you think you’ll spend in retirement? People tend to underestimate the length of their retirement, but research carried out by the Office for National Statistics in 2018 shows us that people are living longer now than ever before:

  • A man aged 65 years in the UK can now expect to live, on average, to 85 and a woman of the same age to 87
  • A boy born today could expect to live to 88, whilst a girl could expect to live to 90

This means that your savings may need to last longer than you think. Use the Office for National Statistics tool to see what this might mean for you.

How much will you need in retirement?

It’s a good idea to think about what you’ll need to spend in retirement and it helps to create a goal to work towards. It’s not just about adding up your day-to-day expenses, you’ll need to give some thought to how you’ll spend your time in retirement and what that could cost.

The retirement living standards from the Pensions and Lifetime Savings Association show you practical guidance to help you work out what your retirement might cost based on three lifestyles.

What does this mean for me?

The guidance describes three different standards of living: minimum, moderate and comfortable. They provide you with information about the costs in retirement and cover everyday living expenses and lifestyle choices such as food, drink, travel, fun and luxuries such as holidays. 

The standards capture couples and individuals and fit into the retirement income brackets of roughly: £10K – £20K – £30K for individuals and £15K - £30K - £45K for couples. This provides a useful ‘rule of thumb’ of how much money you’ll need each year in your retirement to support the way you want to live.

Find out what your future might look like at

You can also use our 'How much will you need?' tool to help you work out how much income you'll need.


Life expectancy calculator

Use the Office for National Statistics tool to see how long your pension savings might need to last


Retirement planner

Use our tool to see if your pension savings are currently on track to give you the income you need.


How much will you need?

Use our helpful tool to get a clearer picture of how much income you might need once you’ve retired.