Renters need almost £400,000 more in retirement, analysis finds

Standard Life projects 87% higher costs than those who are mortgage- and rent-free

Jasmine Urquhart
clock • 3 min read
Standard Life has found those expecting to rent will need almost twice as much as mortgage-free retirees
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Standard Life has found those expecting to rent will need almost twice as much as mortgage-free retirees

Those expecting to rent in retirement could need almost £400,000 more in savings than those with no housing costs, analysis from Standard Life has found.

Looking at average monthly rental figures from the Office for National Statistics (ONS) and projecting costs for a 20-year retirement period, Standard Life suggested renters could need between £600...

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Jasmine Urquhart
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Jasmine Urquhart

Senior Correspondent at Professional Pensions

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