Holidays are ‘valued’ part of lifestyles in retirement

HOLIDAYS are a “valued and realistic” part of later life, according to a pensions body which sets living standards, to give people an idea of the retirement lifestyle they could end up with.

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Pensions UK's retirement living standards aim to help people use their current lifestyle and cost of living as a guide for the amounts of money they might need in the future.

The standards, which are regularly updated, are set at “minimum”, covering retired people's basic needs, with some money left over for fun;

“moderate”, giving people more financial security and flexibility, and “comfortable”, with more financial freedom and some money to spend on luxuries.