What it costs for a life in comfort when you choose to give up work

This is how much retirees need for basics like food, maintaining a home and running a car. Luxuries like eating out, week-long holidays abroad and spoiling family piles on the pounds

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The minimum amount someone needs in retirement has fallen, amid lower energy prices and people's changing expectations, according to calculations.

The Pensions and Lifetime Savings Association sets three different retirement lifestyles - minimum, moderate and comfortable - to give people a general indication of the kind of lifestyle they may be on track for in retirement.

For a moderate lifestyle, a single person would need £31,700 a year while two people would need £43,90.

For a comfortable retirement, a single person would need £43,900 and a two-person household would need £60,600.

Different retirement living standards:

Moderate lifestyle

Single person

A budget of £500 a year to maintain property and a £300 contingency; £56 for groceries, £32 a week on food out of the home, £11 a week on takeaways, £106 a month to take others out.

A three-year-old small car, £22 a month for taxis, £104 per year on rail fares.