All three lifestyle categories match the information for the Retirement Living Standards that were built by the Pensions Lifetime Savings Association. The PLSA built the three levels of expenditure to provide a benchmark level of annual income to fund different standards of living in retirement, based around a basket of goods and services.

The PLSA found that 77% of UK savers don’t know how much they’ll need in retirement, and so these categories should help you understand what level of lifestyle you’re on track for, and also how much you need to add to your pension reach the next lifestyle level.