The cost of living crisis is turning into a cost of retirement crisis as rising food and energy prices mean the amount of money you need to retire at a minimum living standard has increased by almost £2,000 in the last year.
In 2022 the minimum required to survive as a single pensioner jumped by 18% to £12,800 a year. Meanwhile, a retired couple now need a minimum of £19,900 a year – up £3,200, an even bigger rise of 19%, according to a study funded by the Pensions and Lifetime Savings Association (PLSA) at Loughborough University.
While this month the full new state pension rose from £9,627 a year to £10,600, the figures from the research suggest that millions of people will not have enough money to cover their day-to-day living costs.
STM Group plc (LON:STM) is a multi-jurisdictional financial services group listed on the Alternative Investment Market of the London Stock Exchange. The Group was formed as a strategic investment company specifically to build a leading financial services group originally operating in the international corporate and trustee service provider (CTSPs) sector.
