How much will I need in retirement?

Will you be able to afford the retirement lifestyle you want?

Choose from our list of things to do in retirement and we'll show you how much money you might need to make it happen.

This example is not designed to be specific to your personal circumstances. Its purpose is to act as a guide to help you understand the income you might need to fund the lifestyle you want. Figures are based on today's costs for such a lifestyle and do not take into account inflation.

Retirement tool - your life once you stop work Retirement tool

What kind of life would you like to lead when you've said goodbye to the 9-to-5? Create a vision of your ideal retirement and we'll give you an idea of how much money you'll need to fund it.

Retirement tool - your life once you stop work
Experts say that you need around 2/3 of your income to live comfortably in retirement.

To fund the lifestyle you've just chosen, you'll need:

£9,500per year before tax
This example is not designed to be specific to your personal circumstances. Its purpose is to act as a guide to help you understand the income you might need to fund the lifestyle you want. Figures are based on today's costs for such a lifestyle and do not take into account inflation.

Access to impartial guidance

We recommend you seek appropriate guidance or advice before you make any decisions. An adviser may charge a fee for this. You can also get free impartial guidance over the phone or face to face with Pensionwise. Go to pensionwise.gov.uk or call 0800 138 3944.
Make sure you understand all your retirement options by reading the Money Advice Service guide – Your pension - it’s time to choose

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TAX IN RETIREMENT

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