Yes, it’s approaching that day again. For the cynical amongst us, Valentine’s Day marks the culmination of modern consumer capitalism - the annual moment when couples feel obligated to buy lavish gifts and overpriced dinners or risk a barrage of guilt-tripping and “did you see what so-and-so got their partner?” for days afterwards.

For the romantics, however, it is a welcome opportunity to reaffirm deep love, reconnect over a candlelit meal and exchange meaningful, carefully crafted words in a homemade card.

Personally, I fall somewhere between the two. I am looking forward to a nice dinner out with my girlfriend on Saturday. But she is sorely mistaken if she is expecting a bundle of presents or a rose-petalled bed - Christmas was only about two months ago.

If you are struggling for a way to showcase your romantic side this Valentine’s Day, might I suggest something truly heartfelt: initiating a conversation about pensions.

Yes, I am entirely serious.

While tying the knot may not always feel like a financial strategy, the data suggests that forming a long-term partnership can be one of the more effective retirement planning decisions you make.

Analysis by Just Group of the Retirement Living Standards published by Pensions UK highlights a striking difference between singles and couples.

For 2026/27, a single pensioner seeking the ‘minimum’ living standard of £13,400 per year would need to generate £852 of additional annual income on top of the full new state pension.

According to Just Group, generating that £852 after tax would typically require a private pension pot of around £50,000.

By contrast, couples require £21,600 a year to meet the ‘minimum’ standard, yet two full state pensions would provide £25,095 annually - effectively delivering a £3,495 surplus without any private pension income at all.

Just Group director, Emma Walker, says the message in the figures is that a full state pension goes a long way towards helping people achieve the minimum income needed in retirement, but after that, people are on their own.

“In contrast, the income a couple receives from two full state pensions exceeds the minimum standard without needing private pensions at all.”

But, as with all relationships, it is not quite that simple.

Research from Aegon shows that 55 per cent of UK couples living together fully combine their finances, using joint accounts and actively discussing savings goals.

However, 15 per cent say they find conversations about money ‘challenging and stressful’.

Differences in financial priorities are a common flashpoint: among those who report conflicting values, 38 per cent say it causes issues in their relationship.

Aegon behavioural finance expert and head of Money:Mindshift, Dr Tom Mathar, believes this highlights the need for a more human-centric approach to financial planning.

“Finding the right balance between your independent and joint financial priorities is a tricky task at the best of times, let alone during periods of economic challenge like many are experiencing today.”

And what better prompt than Valentine’s Day?

As Now Pensions chief commercial officer Eleanor Levy notes, strong relationships are built on communication - and finances should be no exception.

“Talking openly and frequently about income, savings, financial plans, and retirement goals is not always prioritised, with half of UK adults feeling that discussing money is taboo and 44 per cent having avoided talking about money with their partner.

“But it’s important to get on the same page, as over time partners may adopt different roles in work and family life," she adds.

Indeed, research shows that, on average, women take 10 years out of the workforce to raise families or take on other caring responsibilities, resulting in missing out on £39,000 worth of pension savings.

And whilst marriage is entered into with the best intentions, we shouldn’t ignore that divorce rates are rising, particularly among those over 60.

“Pensions are often the second most valuable asset after a home, yet more than 70 per cent of couples don’t share their pension pots in divorce settlements,” warns Levy.

“Ensuring pension funds are considered by default in divorce settlements is a vital step toward addressing pension inequality.

“Communication about money, especially during major life changes, is essential to navigating both planned and unexpected financial challenges together.”

So perhaps the most romantic gesture this Valentine’s Day is not a dozen roses or an extravagant dinner.

It is sitting down together, reviewing pension plans, discussing retirement goals and making sure both partners are financially protected - whatever the future holds.

Admittedly, this will be a tough sell to my girlfriend, but after all, love is about long-term commitment and a shared future, so there are few conversations more meaningful than the one about how you will retire together!

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