£250k to retire in comfort

sAVERs need to put aside a quarter of a million pounds to live ‘comfortably’ in retirement.

Insurer Royal London says an average earner needs a retirement pot of around £260,000.

Those who rent homes into their retirement could need a total pot as high as £445,000 to maintain their living standards, claims the research.

The report classes a comfortable retirement as an income worth two-thirds of the average £27,000 a year earnings.

It assumes someone would also receive a full state pension of £8,500 a year.