News

The three winners of the Pensions and Lifetime Savings Association’s (PLSA) first Retirement Living Standards Awards have been named at this year’s Annual Conference.

More money for eating out, a higher personal grooming budget and the inclusion of a Netflix subscription are among the changes to the Pensions and Lifetime Savings Association’s Retirement Living Standards in the first update of the rules of thumb for retirement spending since they were established two years ago.

Nine pension companies have been named on the shortlist to win the Pensions and Lifetime Savings Association’s (PLSA) first-ever Retirement Living Standards Awards.

The Pensions and Lifetime Savings Association (PLSA) has launched a new series of awards to recognise excellence in adopting the Retirement Living Standards for member communications.

As the award-winning Retirement Living Standards gain momentum in becoming an industry standard in pension scheme communications, the Pensions and Lifetime Savings Association (PLSA) is asking pension schemes, providers and other stakeholders to publicly show their support for the initiative.

Over 14 million savers now have access to the PLSA’s Retirement Living Standards (RLS) helping them to picture their retirement futures

In total, some 14.4 million savers – including over 10 million active savers – will have access to the Standards following their adoption by 53 organisations including 30 pension schemes, 17 pension business adopters and six other bodies

The Pensions and Lifetime Savings Association (PLSA) has been awarded the Headline Money Thought Leadership Initiative of the Year award for its Retirement Living Standards campaign

The award follows the successful launch of the Retirement Living Standards at last year’s PLSA Annual Conference in Manchester and was given in recognition of creating a thought-provoking public relations campaign that captured the media’s attention and helps savers picture their future

New UK Retirement Living Standards published to help people picture their future retirement and what that might cost

Pitched at three levels – minimum, moderate and comfortable – based on a basket of goods and services, from food and drink to holidays

The Standards can be briefly summarised as 10k-20k-30k for individuals and 15k-30k-45k for couples

Target for schemes representing 90% of active savers to adopt the new Standards by 2025