A couple will typically need a £26,000-a-year income for a comfortable retirement, research from Which? suggests.
The consumer group surveyed nearly 7,000 retirees in February about their spending to develop retirement income targets for one-person and two-person households.
While each person’s circumstances are different, the findings could help to indicate how much someone might need to save. The figures include state and private pension income.
A comfortable retirement includes enough to pay for essentials as well as regular short-haul holidays, hobbies, alcohol and charity giving.
Couples will typically need an annual income of around £18,000 just to cover essentials such as food and drink, household bills, transport, clothing and health products, Which? calculated.
For a more luxurious lifestyle, they would need to aim towards an annual income of £41,000, unlocking the possibility of extended or long-haul holidays, health club memberships and expensive meals out and have a new car every five years.
For single-person households the typical essential, comfortable and…
