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The amount of money you'll need in retirement depends on the type of lifestyle you’re aiming for. Saving into a pension plan could help to cover your costs and get the lifestyle you’re after. We’ve created a retirement tool to help you make sure you give yourself the kind of retirement you’ve always looked forward to. Simply pick the things you want to do in retirement from our list. We’ll help you understand how much money you may need to make these things happen. The figures we use are correct as of April 2024.
This tool is intended to give you a guide. If you think you need more help in your planning you should look for impartial guidance or financial advice.
Retirement tool - your life once you stop work
What kind of life would you like to lead when you've said goodbye to the 9-to-5? Create a vision of your desired retirement and we'll give you an idea of how much money you'll need to fund it, guided by research from the Pension and Lifetime Savings Association's PLSA Retirement Living Standards.
To fund the lifestyle you've just chosen, you'll need:
Can I boost my pension savings?
You could help boost your pension savings by saving more each month. Even a small increase over time can make a big difference. We understand not everyone will be in a position to save more, but just knowing this is an option could be useful to you. After all, it might be something you could consider doing in the future. You can check with your employer or pension provider what your options for topping up are.
Please contact us to discuss your options.
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Need guidance or advice?
Free and impartial pension guidance service and information on obtaining financial advice
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Request your retirement pack
For information on accessing your pension funds, request your personal retirement pack
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Contact us
Find our contact details to get in touch about your policy