Too many people face a "cliff-edge drop in income" when they retire, with more than three quarters not on course to save enough for a "moderate" lifestyle, a pensions trade body has warned.
A new report by Pensions UK suggested what it termed a moderate lifestyle cost £32,700 for one person and £45,400 for two - but estimated just 23% of the working population were on course to reach such a level.
Rising bills have pushed up the cost of retirement, it said, adding to calls for action to boost retirement savings.
According to the report, a minimum retirement lifestyle costs around £13,900 annually for a one-person household and £22,500 for two people.
Meanwhile, a comfortable lifestyle in retirement is estimated to cost £45,400 for a single person and £62,700 for a couple. Pensions UK said only 9% of workers in line to get to that level.
The trade body estimates the level of income needed to have a minimum, moderate or comfortable standard of living as a pensioner each year.
The calculations are developed and maintained independently by the Centre for Research in Social Policy at Loughborough University. They are intended as a guide for those planning their retirement savings.
The minimum standard is calculated to include money for a couple's weekly groceries, a week's holiday in the UK, eating out about once a month and some affordable leisure activities about twice a week.
Some 82% of the working population would reach the minimum standard, the report said.
"Far fewer will go beyond that. That is out of step with what people expect for their future. Without action, too many risk facing a cliff-edge drop in income when they stop work," said Zoe Alexander, from Pensions UK.
The incomes needed had increased compared with a year ago, primarily as a result of the rising cost of food and socialising, the report said.
The increases were broadly in line with rising prices, as measured by inflation, though housing costs are excluded.
"This means it is important for individuals to use the standards as a guide and adjust them to reflect their own situation, particularly where additional housing costs are likely to be a key factor," Pensions UK said.
The trade body suggested that workers, employers and the government could step up to encourage and contribute to more saving for retirement.
Last year, the government said it was reviving the "landmark" Turner Pension Commission which reported in 2006, under the last Labour government, and led to the roll-out of automatic enrolment into pension saving.
Ministers, and the commission's interim report, suggested that people were not saving enough for retirement, with people drawing their pension 25 years from now set to be £800 or 8% worse off per year than their counterparts today, according to the government.
Women have about half the amount of money saved in pensions as men, tax authority figures suggest. And 28 is the age when women start to fall behind men in saving for retirement, investment platform AJ Bell has found.
