What are the Retirement Living Standards?
The Retirement Living Standards are industry benchmarks that show how much money people may need each year to achieve different lifestyles in retirement. They illustrate what a minimum, moderate and comfortable retirement could look like.
Employees can use the Retirement Living Standards to think about the retirement lifestyle they want and whether their current pension savings may be on track to support it. They’re intended to be used as a guide and don’t provide a guarantee or personalised financial advice.
Visit our Retirement Living Standards information page or the official Retirement Living Standards website to find out more.
Email templates
Let your employees know about the Retirement Living Standards with our ready-to-use email template.
Engagement resources
You can use these resources to help your employees learn about the Retirement Living Standards and what they mean for saving and planning for retirement. These documents can't be edited.
Employee guide
Our guide brings the Retirement Living Standards to life with practical examples. Perfect for supporting conversations using relatable scenarios.
Video - Introduction
This short video introduces the Retirement Living Standards and explains what they mean.
Video - How much is needed
This short video shows how much employees might need to save into their pension to meet the minimum, moderate and comfortable Retirement Living Standards.
Poster
Display our poster to raise awareness of the Retirement Living Standards and encourage employees to learn more about planning for retirement.
Intranet banner
Use our intranet banner to direct employees to the Retirement Living Standards and helpful tools and resources, to support their retirement planning.
Frequently asked questions
How can promoting the Retirement Living Standards benefit employers?
Promoting the Retirement Living Standards can support wider financial wellbeing initiatives by helping employees understand their retirement goals and engage with pension saving. It can also provide employers with a simple framework for starting conversations about retirement planning and long-term financial wellbeing.
When should employers communicate retirement planning messages?
Retirement planning messages are relevant throughout an employee’s career, not only when retirement is close. Employers could share them when employees join the pension scheme, during benefit reviews, as part of pension awareness activity and at regular points in the communications calendar.
For guidance on planning and scheduling employee communications, see our How to use the toolkit page.
How can employees check whether they’re on track for retirement?
Employees can get an indication of whether their pension savings may support their plans by comparing their preferred lifestyle with the Retirement Living Standards. They can then review their pension statements and any other pension savings. The guides and videos on this page can help them understand the Retirement Living Standards and consider their next steps.