Just how “retirement ready” are you?

And will your retirement income match the average in the region where you live?

Financial services provider Hargreaves Lansdown has analysed Office for National Statistics (ONS) and Government data and discovered that households in the South East of the country need to save the most over their working lifetime – £411 per month typically – to ensure they will be level pegging with other pensioners in their region.

However, for those living in Wales, staying on a par with your neighbours will mean putting aside just £207 per month.

According to Nathan Long, senior analyst at Hargreaves Lansdown: “The retirement readiness of the UK differs tremendously by region.

“Whilst it might be tempting to ensure you are keeping up with the Joneses when you come to retirement, making a personal retirement to-do list is the best way to ensure you can leave work when and how you want to. Working out what you’ve got, when you want to stop work, where you’ll live in retirement and what you’ll need are important first steps in planning for life after work.”

Hargreaves Lansdown examined the amount that couples in each region will need to save each month over a 46-year working life to enjoy the average amount that pensioner households receives in their region. These figures that both will the full state pension to fall back on and that their pension savings are turned into income at a rate of 4%.

The calculations also assumed inflation and earnings growing by 2% per annum, annual investment returns of 5% and advisor charges of 0.75%.

So which part of the country has the biggest pension pots and disposable incomes?

The canny Scots came out tops here, with an average pension wealth of £140,400. Bottom of the table came the East Midlands with £87,400.

London pensioners, in part because of higher costs, are the hardest up after household spending is taken into account, with only £6 left over per week. Their North East counterparts, however, are living high on the metaphorical hog with £109.

And how are you faring?

These are the monthly pension savings Hargreaves Lansdown say are required by a couple to achieve the average regional pension income:

1 Wales £207
2. Northern Ireland £217
3. North East £244
4. West Midlands £250
5. Yorkshire and the Humber £256
6. North West £261
7. Scotland £276
8. East Midlands £282
9. London £300
10. South West £352
11. East of England £358
12. South East £411

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