Nurture health and wealth for best retirement

AS PEOPLE live longer pensioners now expect to be retired for 27 years on average which is good news but there's a catch, as their retirement sayings may not last as long as they do.

- Harvey Jones

Given today's state pension age of 66 that would see retirees living until 93, and they need a bigger pension pot to last the course, especially if they want to enjoy their final years.

A moderate retirement lifestyle with one overseas holiday per year and several meals out a month requires annual income of at least £31,300, says the Pensions and Lifetime Savings Association.

This rises to £43,100 for a more comfortable lifestyle with small luxuries and mini-breaks.

Generating that kind of income isn't easy, with the new state pension currently only paying a maximum of £11,502 and many retirees getting less.

More than four in 10 know they're not saving enough despite adopting healthier lifestyles that may extend their life expectancy.