When it comes to retirement, being single in the UK can be a costly affair — to the tune of £225,000 more than couples. That’s not just a shocking number; it’s a wake-up call. This gap isn’t about indulgence. It’s about having enough for heating, housing, food, and a decent standard of life. So, why are singles so far behind, and what can be done? Let’s unpack this.
Disparity
The root of the problem is pretty straightforward: single people don’t get to split bills. Whether it’s rent, council tax, groceries, or energy bills, couples can share the load. Singles? They’re stuck footing the full amount. That’s where the pension gap starts — and snowballs.
Cost Breakdown by Lifestyle
Here’s how retirement income needs stack up:
| Lifestyle | Single Income Needed | Couple Income Needed | Required Pension Pot (Single) | Couple Combined Pot |
|---|---|---|---|---|
| Minimum | £14,400 | £22,400 | — | — |
| Moderate | £31,300 | £43,100 | £439,000 | £428,000 |
| Comfortable | £43,100 | £59,000 | £709,000 | £796,000 |
Even at the moderate level, singles need nearly the same as two people combined. That’s the £225,000 shortfall making headlines — and raising eyebrows.
Pressure
Living solo doesn’t just cost more; it offers fewer safety nets. Couples often have two pensions, two state pensions, and dual emergency buffers. A single person relies entirely on their own planning. No backup. No plan B.
The everyday impact? Less money for leisure, higher vulnerability in emergencies, and lower financial resilience — especially during inflation or health setbacks.
Stories
Take Jane, 62, from Kent. She’s got £65,000 saved after raising two kids and working part-time. That’s miles away from the £439,000 target for a moderate lifestyle. Jane’s cautious but hadn’t grasped how far behind she’d fallen until her advisor crunched the numbers.
She’s not alone. Women, carers, and part-timers are especially at risk due to career breaks and lower earnings.
Planning
The good news? It’s not too late. With the right tools and mindset, singles can still take charge of their future.
- Start Early – Even small contributions grow over time thanks to compound interest. Begin with workplace pensions, and top up with Lifetime ISAs.
- Use Calculators – The MoneyHelper Pension Calculator gives a clear picture of what you need and how to get there.
- Max Contributions – Always contribute enough to get your full employer match. It’s free money!
- Diversify Savings – Add a SIPP or Stocks & Shares ISA. These give tax perks and flexibility.
- Check Your NI Record – You’ll need 35 full years to get the max state pension. Missing years? You might be able to buy them back.
- Seek Advice – Book a free Pension Wise appointment or see a financial adviser. The insights are worth it.
Policy
There’s also a strong case for policy change. Experts argue that the full state pension (£11,973/year) doesn’t match today’s cost of living for singles. Add to that the gender pay gap, unpaid caregiving, and patchy pension education — and it’s no wonder single pensioners feel left behind.
Changes could include:
- State pension top-ups for single or low-earning retirees
- Automatic enrolment improvements for part-time workers
- Public awareness campaigns targeting those most at risk
We’re at a tipping point. If ignored, the pension gap could push millions into hardship. But with awareness, action, and support — both personal and political — we can rewrite the script.
Single retirees may be at a disadvantage, but knowledge is power. The sooner you act, the better your odds of a secure and comfortable retirement — whether you’re sharing a home or going solo.
FAQs
Why do single retirees need more money?
Because they don’t share living costs like couples do.
How much is the pension gap?
Up to £225,000 more is needed for singles to retire well.
What is a moderate retirement income?
£31,300 annually for a single person in the UK.
Is state pension enough for singles?
Not usually, as it’s only £11,973 per year.
How can I reduce the pension gap?
Start saving early and use tools like ISAs and SIPPs.
