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What will your perfect retirement cost?

Here’s what it might cost to afford it

82% of people do not know how much they’ll need when they retire

Studies show that most of us do not know how much we will need in retirement. But Pensions UK has done some research* to make it easier for you to plan for retirement.

The Retirement Living Standards research gives you an idea if you’re on track for the lifestyle you want.

Here's a quick summary:

  • Minimum

    One-person: £13,400 and two-person: £21,600

    Covers your basic needs with a little left over for socialising and extras such as:

    • A week-long UK holiday each year
    • Dining out once a month
    • However, you’ll have to do without a few luxuries like a car
  • Moderate

    One-person: £31,900 and two-person: £43,900

    More financial security and the flexibility to do more, such as:

    • An annual holiday abroad and a long weekend away in the UK
    • Dining out a few times a month
    • A second-hand car with a replacement every seven years
  • Comfortable

    One-person: £43,900 and two-person: £60,600

    Opportunities for more spontaneous spending and luxuries:

    • A foreign holiday and a few UK minibreaks each year
    • Dining out twice a week
    • A second-hand car with a replacement every five years

Next steps

To work out what income you’ll get when you retire:

  • Log in to My USS and use the Benefit Calculator to see how much you’ll get from USS when you retire.
  • Think about any other pension benefits, savings or additional income you may have outside of USS. If you think you might have forgotten about any pensions you’ve built up over the years, you can check the government’s Pension Tracing Service to find details of forgotten pensions.
  • Remember the State Pension (if you’re eligible), you can check how much you’re going to get on the government’s website.
  • Visit your pension after leaving for more information about when you can start taking your benefits.

*The research focuses on the cost of things and assumes you own your own home with no mortgage, so you may need to add other costs depending on your circumstances, such as mortgage, rent or social care costs. Also remember that your pension is taxable income, so that’s worth considering as part of any planning. It’s important to note that retirement will be different for everyone and that the figures provided are just a guide.

Published: 25 March 2026