Retirement less expensive as energy prices fall |
The amount of money needed to meet a basic standard of living in retirement has fallen, according to the Pensions and Lifetime Savings Association, as lower energy prices have an impact. The study suggests that the cost of a minimum retirement living standard for a one-person household has decreased by £1,000 a year to £13,400. A two-person household now needs an annual income of £21,600, down from £22,400 a year ago. For a 'moderate' lifestyle, a single person would need £31,700, up from £31,300, while two people would need £43,900, compared to £43,100. For a 'comfortable' retirement, a single person would need £43,900, up from £43,100 previously, and a two-person household would need £60,600, compared to £59,000 last year. |
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