Holidays are considered a "valued and realistic" component of later life, according to Pensions UK, a body that sets retirement living standards. These benchmarks are designed to help individuals understand the financial provisions required to maintain a desired lifestyle in retirement.
Pensions UK’s regularly updated standards serve as a guide, allowing people to use their current cost of living as a reference for future financial needs. The framework outlines three distinct levels: "minimum," which covers basic needs with some allowance for leisure; "moderate," offering greater financial security and flexibility; and "comfortable," providing significant financial freedom and scope for luxuries.
