A pensions body has calculated how much retired couples can afford to spend on Christmas dinner based on their income levels. The calculations show that comfortable retirees can spend around £260, while those on a moderate budget have £145 and minimum income couples have £60.
A retiree couple living comfortably and hosting guests this Christmas could potentially have around £260 to splash out on food, according to calculations by a pensions body. A pensioner couple with a moderate lifestyle may have around £145 to spend on food for guests, while those on only a minimum income may have around £60 available in their budget to spend.
Zoe Alexander, director of policy and advocacy at the PLSA, said: “The retirement living standards help people plan for retirement by identifying the lifestyles retirees can expect at three different levels of expenditure – minimum, moderate and comfortable. “To illustrate these, we’ve created festive hampers showing how retirees might allocate their ‘celebration events’ budget at each level, including a special dinner, decorations, and presents.” Researchers producing costings for retiree couples assumed that those on a minimum and moderate budget would be hosting four people for dinner, while those on a comfortable budget would have six guests.For those on a comfortable budget, a couple would have £259.44 to spend, based on a budgeted amount for celebration events, plus a proportion of their regular weekly shopping budget. Researchers included items such as smoked salmon, trout pate, prawns, cheese and crackers and a matured Christmas pudding for those with a comfortable lifestyle. They were also allocated a budget of £600 for spending on Christmas gifts, made up of 12 gifts costing £50, including gift wrap and cards, plus an additional £5 for Christmas decorations.A retired couple on a moderate budget meanwhile would have around £145.08 for food, allocated from their budget for celebration events, their regular weekly shopping budget – and also taking up some of their usual eating out and takeaway budget. Researchers allocated items such as a prawn ring, chicken liver pate and a cheese selection to their food budge
RETIREMENT FINANCE CHRISTMAS BUDGET FOOD
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