Moderate standard of living in retirement costs £8,000 more a year, industry body says

Income needed to retire jumps as family costs rise

Experts estimates that a single person needs £31,300 a year for a moderate retirement, up £8,000 on last year.

Pensioners will need £8,000 more than last year to have a modest retirement

Retirees will need to shell out a third more than in the previous year to maintain a 'moderate' standard of life

Cost of ‘comfortable' retirement soars to £59,000 a year sparking calls for reform

The cost of living crisis has exacerbated the financial challenges faced by pensioners with Britons needing to have a greater retirement savings pot going forward

Cost of retirement up £8,000 a year amid 'enormous pressure' on households

The cost for an average person to retire comfortably is up £8000 a year in the UK due to rising prices and shifting priorities.

Annual cost of moderate retirement up £8,000 amid rising living costs – research

The figures reflected ‘the strong effects’ of rising prices as well as changing expectations around retirement, researchers said.

Pensioners need extra £8,000 a year for a moderate retirement as costs soar

Even a single pensioner happy to get by with a basic lifestyle needs an extra £2,600 a year, according to new data.