Rising prices add almost 20% to minimum cost of retirement, says PLSA

The trade body said its latest inflation update of its Retirement Living Standards (RLS), released today (12 January), show high inflation has meant retirees aiming to achieve a basic standard of living have seen their expenditure rise by the largest amount due to a higher proportion of their budget going towards things which have risen the most in price, i.e., food or energy. It said the cost of retirement for individuals on a ‘minimum' lifestyle has risen by £1,900, or 18%, in the last year. For couples, the figure has risen by £3,200, or 19%. The cost of a ‘minimum' lifestyle - now...