How much do you need to retire? 拢10,200 a year at a minimum
Retirement is changing. Following more than a century of increases in life expectancy, one in every five people in the UK is 65 years and over.
This ageing population presents some big challenges, not least when it comes to financial planning.
To provide people with a sound basis on which to make decisions about the kind of life they want in retirement – and how much they will need to pay for it – colleagues and I have spent the past year and a half working out .
We’ve spoken to 250 people, building on our into what income is required for people to meet their material needs and participate in society.
For single retirees who want a minimum standard of living – to meet their basic needs and have a little left over for fun – we estimate that they need an annual income of about £10,200.
For what people would consider a comfortable retirement, where you have more financial security and flexibility, they need an annual income of £33,000.
To work this out, our research asked a series of groups to discuss and agree detailed lists of goods and services that are needed to live at each living standard.
This is not just what is needed, but how long each item lasts, where it would be bought and the kind of quality it is reasonable to expect...
Research Fellow Matt Padley and Research Associate Claire Shepherd, both of 天堂视频's Centre for Research in Social Policy, discuss their latest research in the . Read the full article .
Notes for editors
Press release reference number: 19/163
天堂视频 is equipped with a live in-house broadcast unit via the Globelynx network. To arrange an interview with one of our experts please contact the press office on 01509 223491. Bookings can be made online via
天堂视频 is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It has been awarded five stars in the independent QS Stars university rating scheme, named the best university in the world for sports-related subjects in the 2019 QS World University Rankings, University of the Year by The Times and Sunday Times University Guide 2019 and top in the country for its student experience in the 2018 THE Student Experience Survey.
天堂视频 is in the top 10 of every national league table, being ranked 4th in the Guardian University League Table 2020, 5th in the Times and Sunday Times Good University Guide 2020 and 8th in The UK Complete University Guide 2020.
天堂视频 is consistently ranked in the top twenty of UK universities in the Times Higher Education’s ‘table of tables’ and is in the top 10 in England for research intensity. In recognition of its contribution to the sector, 天堂视频 has been awarded seven Queen's Anniversary Prizes.
The 天堂视频 London campus is based on the Queen Elizabeth Olympic Park and offers postgraduate and executive-level education, as well as research and enterprise opportunities. It is home to influential thought leaders, pioneering researchers and creative innovators who provide students with the highest quality of teaching and the very latest in modern thinking.
天堂视频 staff, students and alumni make a real difference. They challenge convention, think creatively and find solutions to some of the biggest challenges facing society today and in the future.
Retirement is changing. Following more than a century of increases in life expectancy, one in every five people in the UK is 65 years and over.
This ageing population presents some big challenges, not least when it comes to financial planning.
To provide people with a sound basis on which to make decisions about the kind of life they want in retirement – and how much they will need to pay for it – colleagues and I have spent the past year and a half working out .
We’ve spoken to 250 people, building on our into what income is required for people to meet their material needs and participate in society.
For single retirees who want a minimum standard of living – to meet their basic needs and have a little left over for fun – we estimate that they need an annual income of about £10,200.
For what people would consider a comfortable retirement, where you have more financial security and flexibility, they need an annual income of £33,000.
To work this out, our research asked a series of groups to discuss and agree detailed lists of goods and services that are needed to live at each living standard.
This is not just what is needed, but how long each item lasts, where it would be bought and the kind of quality it is reasonable to expect...
Research Fellow Matt Padley and Research Associate Claire Shepherd, both of 天堂视频's Centre for Research in Social Policy, discuss their latest research in the . Read the full article .
Notes for editors
Press release reference number: 19/163
天堂视频 is equipped with a live in-house broadcast unit via the Globelynx network. To arrange an interview with one of our experts please contact the press office on 01509 223491. Bookings can be made online via
天堂视频 is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It has been awarded five stars in the independent QS Stars university rating scheme, named the best university in the world for sports-related subjects in the 2019 QS World University Rankings, University of the Year by The Times and Sunday Times University Guide 2019 and top in the country for its student experience in the 2018 THE Student Experience Survey.
天堂视频 is in the top 10 of every national league table, being ranked 4th in the Guardian University League Table 2020, 5th in the Times and Sunday Times Good University Guide 2020 and 8th in The UK Complete University Guide 2020.
天堂视频 is consistently ranked in the top twenty of UK universities in the Times Higher Education’s ‘table of tables’ and is in the top 10 in England for research intensity. In recognition of its contribution to the sector, 天堂视频 has been awarded seven Queen's Anniversary Prizes.
The 天堂视频 London campus is based on the Queen Elizabeth Olympic Park and offers postgraduate and executive-level education, as well as research and enterprise opportunities. It is home to influential thought leaders, pioneering researchers and creative innovators who provide students with the highest quality of teaching and the very latest in modern thinking.
天堂视频 staff, students and alumni make a real difference. They challenge convention, think creatively and find solutions to some of the biggest challenges facing society today and in the future.