--- title: "Retirement Calculator UK: How Big a Pension Pot Do You Need?" description: "Free retirement calculator for the UK: the pension pot you need on top of the State Pension, the monthly saving to build it and whether it lasts. In £, no sign-up." canonical: https://mywealthcheck.com/calculators/retirement-calculator-uk/ language: en updated: 2026-11-11 publisher: MyWealthCheck (hello@mywealthcheck.com) note: Text copy of the canonical page, generated from the same build. For education only, not investment advice. --- # Retirement calculator for the UK For a retirement from 65 to 90 you typically need savings of 18 to 25 times the part of your first-year spending that the State Pension doesn't cover. Enter your numbers to see your own target and the monthly investment that builds it. Everything is in pounds and runs in your browser. Free · any currency · no sign-up · method last reviewed 11 November 2026 > **Interactive tool.** This part of the page runs in the browser and is not included in this text copy. Open https://mywealthcheck.com/calculators/retirement-calculator-uk/ to enter your own numbers. ## Quick answer: how much do you need to retire in the UK? For a retirement from 65 to 90, you typically need a pension pot and other savings of **about 18 to 25 times the part of your first-year spending that the State Pension doesn't cover**, with that spending grown by inflation from today. For example, £3,500 a month today is about £101,900 a year in 30 years at 3% inflation, so roughly £1.8 to 2.5 million before the State Pension. The full State Pension is £241.30 a week in 2026/27, so a person spending £3,500 a month today who gets it in full needs their savings to cover about £2,450 a month in today's money. ## How this retirement calculator works 1. **Spending at retirement.** Today's monthly spending grows with inflation until your retirement age. 2. **Retirement savings needed.** We add up every year's spending from retirement to your plan age. Money for the next 10 years sits in bonds and cash; money for later years stays partly in stocks so it can keep up with inflation. 3. **Your savings.** What you already have in pensions, ISAs and other accounts grows at the returns you enter. 4. **Monthly investment.** We work out the first-year monthly amount, including your employer's contribution, that fills the gap, rising by your yearly increase, with fewer stocks as retirement gets close. 5. **Will it last?** We test your savings year by year at expected returns and after a 35% crash in your first year of retirement. ## What changes your retirement number the most in the UK? - **Your State Pension record.** Each qualifying year of National Insurance adds about 1/35 of the full rate, which lasts for life. Filling a gap with voluntary contributions is often one of the best-value moves available. - **A defined benefit pension.** A final salary or career average pension pays a guaranteed income and can cover much of your spending on its own. Subtract it like the State Pension. - **Your spending.** Every £1,000 a month you spend today adds roughly 18 to 25 times its inflated yearly value to what you need. - **Tax on withdrawals.** After the 25% tax-free part, pension income is taxed; ISA money isn't. Drawing from both can keep you in the basic-rate band. - **Owning your home.** Retiring mortgage-free removes the biggest cost for most households. Rules as of November 2026. ## Frequently asked questions ### How big a pension pot do I need to retire in the UK? For a retirement from 65 to 90, typically about 18 to 25 times the part of your first-year spending that the State Pension and any defined benefit pension don't cover. For example, £3,500 a month today becomes about £101,900 a year in 30 years at 3% inflation, so savings of roughly £1.8 to 2.5 million before the State Pension. The full State Pension, about £12,550 a year today, lowers that a lot. Enter your own numbers above for an exact figure. ### How much is the State Pension and when does it start? The full new State Pension is £241.30 a week in 2026/27, about £12,550 a year, and it rises every April under the triple lock. You need 35 qualifying years of National Insurance for the full amount and usually at least 10 for any. State Pension age is 66, rising to 67 for people born on or after 6 March 1961, and under current law to 68 between 2044 and 2046. Check your own age and forecast on GOV.UK. ### How does the State Pension change how much I need? It pays for life and rises every year, so it covers a large part of a modest budget. This quick calculator assumes no other income; for a quick estimate, enter your monthly spending minus your State Pension forecast in today's money, and set your retirement age to your State Pension age. The full planner can add the State Pension from the age it starts if you retire earlier. ### How much of my pension can I take tax-free? Usually 25%, up to a total of £268,275 across all your pensions (the lump sum allowance). You can take it all at once or a quarter of each withdrawal. The rest is taxed as income when you draw it, at 20% or more once your total income is above the £12,570 personal allowance. You can take a personal or workplace pension from 55, rising to 57 on 6 April 2028. ### Drawdown or an annuity? Drawdown keeps your pension invested and lets you choose how much to take, so it can grow but can also run out. An annuity turns some or all of it into a guaranteed income for life. Many people use both: drawdown first, and an annuity later to cover essential spending. This calculator models drawdown with a bucket strategy; Pension Wise from MoneyHelper offers free guidance on the choices if you are 50 or over. ### How much can I pay into my pension? Up to £60,000 a year, or 100% of your earnings if lower, including employer contributions, with unused allowance carried forward from the past three tax years. High earners have a lower, tapered allowance, and once you take taxable income from a defined contribution pension your allowance falls to £10,000. Contributions get tax relief at your marginal rate. ### What inflation rate should I use? Around 3% is a cautious long-term assumption for the UK. The Bank of England targets 2%, but prices have risen faster than that in many years. Energy, council tax and care costs can rise faster than other prices. If you are unsure, test 3.5% to see how much more you would need. ### Until what age should my retirement plan last? Plan until at least 90, and to 95 if you are healthy or your family tends to live long. Many people who reach 65 live into their late 80s or 90s, and running out of money at 85 is a much bigger problem than leaving some behind. ### Will my pension be taxed when I die? From 6 April 2027 most unused pension funds and death benefits count towards your estate for inheritance tax. Before then, most defined contribution pensions are outside your estate. If you die after 75, your beneficiaries also pay income tax on what they draw. The change may make spending your pension earlier more attractive; check the current rules or get advice if your estate is large. ### Is my data stored anywhere? No. The calculator runs in your browser and your numbers are not sent to any server. The inputs appear in the page address only so you can bookmark or share a result yourself. ## Sources Rules and rates change. Check the current figures with the official source before acting. - [Office for National Statistics](https://www.ons.gov.uk/economy/inflationandpriceindices): UK inflation - [GOV.UK](https://www.gov.uk/personal-pensions-your-rights): when you can take a personal pension - [GOV.UK](https://www.gov.uk/tax-on-your-private-pension/annual-allowance): pension annual allowance - [GOV.UK](https://www.gov.uk/individual-savings-accounts): ISA allowance - [GOV.UK](https://www.gov.uk/new-state-pension/what-youll-get): new State Pension rates - [GOV.UK](https://www.gov.uk/state-pension-age): State Pension age checker - [HMRC](https://www.gov.uk/guidance/capital-gains-tax-rates-and-allowances): capital gains tax rates and allowances - [GOV.UK](https://www.gov.uk/tax-on-dividends): dividend allowance and tax rates - [MoneyHelper](https://www.moneyhelper.org.uk/en/pensions-and-retirement): free government-backed pension guidance **For education only, not financial advice.** Results depend on your inputs and on assumed returns and inflation, which will differ from reality. [How we calculate](https://mywealthcheck.com/methodology/) · [Read the disclaimer](https://mywealthcheck.com/disclaimer/).