Picture your future

The Retirement Living Standards aim to help people understand how much income is needed to achieve a certain lifestyle in retirement. 

Five years ago, when the standards were first launched, the income needed to enjoy a basic (minimum), moderate or comfortable retirement for an individual was £10,000, £20,000 and £30,000 respectively. Now, in 2024, a single person will need to be able to have an income of around £14,400 a year to achieve the minimum living standard, £31,300 a year for moderate and £43,100 a year for comfortable (and more if you live in London). 

Visit www.retirementlivingstandards.org.uk to find out what standard of living you can expect in retirement and then log in to Manage Your Account to see how much your SRSP pension pot will contribute to this.