State Pension “Shortfall Day” falls on 22nd November, analysis shows

State Pension “Shortfall Day” falls this weekend, marking the point in the year when a pensioner relying solely on the full new State Pension would exhaust their annual income if spending at the ‘minimum’ level set out by the PLSA Retirement Living Standards.

According to the analysis from Just Group, a single pensioner requires £13,400 a year to maintain the ‘minimum’ standard.

The full new State Pension for 2025–26 is £11,973, creating a shortfall of £1,427.

This means that a pensioner spending at the minimum benchmark would run out of State Pension income on 22nd November and need private pensions or other savings to cover the remaining weeks of the year.

The gap is significantly wider for those aiming for higher living standards.

Someone targeting the PLSA’s ‘moderate’ level would require an extra £19,727 a year, with State Pension income exhausted by 17th May.

Those aspiring to a ‘comfortable’ retirement would face a £31,927 shortfall, with their State Pension running out as early as 9th April.

The PLSA’s ‘minimum’ standard is defined as covering essential needs with some scope for social activities, such as a one-week UK holiday, eating out once a month and affordable leisure activities twice a week.