The exact amount pensioners need for a 'comfortable retirement' has been revealed.
The Pensions and Lifetime Savings Association (PLSA) regularly publishes retirement living standards, to give people an idea of the amounts they may potentially need in retirement, whether they are aiming for a minimum standard of living, a comfortable standard of living, or a more luxurious lifestyle in retirement.
In its latest inflation update, the PLSA said the cost of a minimum lifestyle has increased from £10,900 in 2021 to £12,800 in 2022 - or 18% - for a single person and from £16,700 to £19,900 - or 19% - for a couple.
