Overview

• The PLSA’s 2024/25 standards set annual minimum living costs at £13,400 for single pensioners and £21,600 for couples.
• Moderate retirement budgets climbed to £31,700 for one-person households and £43,900 for two-person households.
• Comfortable living thresholds rose to £43,900 for singles and £60,600 for couples, reflecting broader inflationary pressures.
• A full new state pension can cover the minimum standard for couples but leaves single retirees with an income gap.
• Industry experts warn that automatic enrolment contributions at 8% may leave many savers short of funds needed for higher retirement lifestyles.