When you’re thinking about how much money you might need in retirement, it can be difficult to know what a “comfortable” or even a “minimum” income actually means in practice.
The Retirement Living Standards, produced by Pensions UK, are designed to help. They show what different levels of retirement spending could look like, based on research into what people think they need for different lifestyles.
The latest figures for 2026 are:
| Minimum | Moderate | Comfortable | |
|---|---|---|---|
| One person | £13,900 | £32,700 | £45,400 |
| Two people | £22,500 | £45,400 | £62,700 |
These figures are based on annual spending, rather than simply the amount of pension or other income you receive. They are also benchmarks, not government-set income levels.
So what does each level mean?
Minimum covers all the basics, but also includes some money for enjoying life. For example, the minimum standard for one person includes a week-long UK holiday, eating out once a month and some affordable leisure activities.
Moderate allows for more financial security and greater choice, including more opportunities for eating out, holidays and leisure.
Comfortable provides greater financial flexibility, with more spending on things such as holidays, leisure, transport and helping family.
The amount you actually need will depend on your circumstances. Housing costs can make a significant difference, as can whether you live alone or with a partner and your individual spending needs.
The important point is that a decent retirement is about more than simply being able to pay the bills. It should allow people to maintain a good quality of life, stay connected and take part in the things that matter to them.
These standards are one of the benchmarks informing CSPA’s campaign for a Minimum Income Guarantee for older people, which would aim to ensure everyone has enough to meet their essential costs and live with dignity.
What we're campaigning for
The Retirement Living Standards help show what people need for different levels of retirement. But CSPA believes everyone should have a secure minimum level of income that covers essential costs such as housing, energy, food, transport and personal care, while still allowing people to enjoy an active and dignified retirement. That’s why we’re calling for a Minimum Income Guarantee for older people, regularly reviewed to reflect the real cost of living.
