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How much will you need?

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.

Can you picture your future?

Our ‘Retirement Living Standards’ tool helps you understand how much you’ll need to live on in retirement. Based on the retirement living standards from the Pensions and Lifetime Savings Association (PLSA), it helps you work out what your retirement might cost based on three lifestyles and allows you to tailor your living costs to your own needs.

Use our RLS tool

What are the PLSA’s retirement living standards?

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 your home, food and drink, transport, holidays and leisure and helping others like buying birthday presents.