🏖️Plan Your Future

Retirement Planning Calculator

Calculate how much you need to save for retirement. Includes state pension, compound growth, and inflation adjustments.

Your Details

37 years until retirement

Projected Retirement Pot

💰
£0
at age 67 • NaN% of target
Required Pot
£0
For £30,000/year
Surplus
£0
✓ On track!
State Pension (projected)
£0
Per year at retirement
Total Annual Income
£0
Pot + state pension

Savings Growth to Retirement

💡 Retirement Insights

Monthly Income in Retirement
£0
Based on 4% withdrawal rule
To Reach Your Goal

✓ You're on track!

Continue your current contributions to exceed your retirement income goal.

The 4% Rule
The 4% rule suggests withdrawing 4% of your retirement pot annually, adjusted for inflation. This historically provides income for 30+ years.
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Retirement Planning Guide

How Much Do You Need to Retire in the UK?

According to research, a comfortable retirement in the UK requires around £33,000 per year for a single person (including state pension). However, your needs depend on your lifestyle, location, and whether you have housing costs.

The Power of Starting Early

Starting to save for retirement in your 20s or 30s gives compound interest decades to work its magic. Someone who starts at 25 and saves £300/month until 65 could accumulate over £700,000 (assuming 7% returns), compared to £360,000 if they start at 35.

UK State Pension

The full UK state pension for 2025/26 is £11,502 per year (£221.20 per week). To qualify for the full amount, you need 35 years of National Insurance contributions. You can check your state pension forecast at gov.uk.

Note: State pension age is currently 67 for most people and may increase in the future.

Tax-Efficient Retirement Saving

🏦 Workplace Pension

Your employer must contribute at least 3% if you contribute 5%. Tax relief means a £100 contribution only costs you £80 (or £60 for higher-rate taxpayers).

📈 SIPP (Self-Invested Personal Pension)

Full control over investments with the same tax benefits. Ideal for additional contributions beyond your workplace pension.

💰 Lifetime ISA

25% government bonus on contributions up to £4,000/year. Can only be accessed at 60 or for first home purchase.

Retirement Planning Tips

  • • Maximize employer match: Always contribute enough to get full employer contributions
  • • Increase contributions with raises: Boost pension contributions when you get a pay rise
  • • Diversify investments: Don't put all eggs in one basket
  • • Review annually: Check your pension performance and adjust contributions
  • • Consider downsizing: Factor in property equity as part of retirement planning