How much will you need to put away to achieve financial independence?
Think about your financial future and how much will you need to put away for the day you stop working. The earlier you start to save the longer you will have to allow your investment to grow.
This calculator lets you see how large a fund you might need to enable you to have an income equal to a percentage of your current salary if you were to invest a percentage of your salary each year. You should aim to have a retirement pot at least 25 times the annual income amount you want.
For most people they will need to save 15% or more of their monthly salary in order to be financially independent in their sixties.
Adjust the sliders to match your circumstances and retirement savings:
The chart is shown in today's values ie: inflation has been deducted at an assumed rate*
Fees reduce the value of your investment and are typically applied as a fixed fee (for example the investment platform that holds your pot) or a percentage fee (for example the cost of fund management or advice), often a combination of both.
See Why Fees Matter for guidanceHow changes in key variables affect your retirement age:
| Scenario | Growth Rate | Savings Rate | Retirement Age | Change |
|---|
| Age | Annual Savings | Investment Value | Annual Withdrawal | Remaining Pot |
|---|
💡 Tip: Use your browser's print function (Ctrl+P / Cmd+P) to save this table as PDF for your records.
* The UK Regulator (the Financial Conduct Authority) recommends using an inter-mediate growth rate of 5% when projecting pension cashflows and a price inflation rate of 2%. Reference: fca.org.uk. The calculator assumes a fixed 3% growth rate in decumulation.
The 25 times or 4% rule, also known as the Bengen rule, is a well established concept in retirement planning.
The full new State Pension is £241.30 per week (£12,547 per year) for 2026/27. You need 35 qualifying years (with a minimum of 10 years) of National Insurance contributions to get the full amount.
Achieving financial security is a journey that involves three crucial stages. Each stage builds upon the previous one, creating a solid foundation for your financial future. Take the first step towards financial security by exploring each stage of the planning process.
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Let's consider an example of Ben, who is currently 30 years old and earning £50,000 per annum.
Ben would also like to buy a property and build up for a deposit of £40,000 over five years.
The Pensions and Lifetime Savings Association (PLSA) has recently updated its Retirement Living Standards, which provide guidelines for the amount of income needed to achieve a moderate retirement in the UK. As of 2024, the PLSA estimates that for a moderate retirement:
If you're aged 50 or over and have a UK-based defined contribution pension pot, you can get free, impartial guidance from Pension Wise, a service backed by the UK government.
Appointments last around 60 minutes and are available regardless of the size of your pension pot.
Visit Pension WisePensions are subject to access conditions and may be subject to change.
The value of investments can go down as well as up, and you may get back less than you invest.
This calculator is for illustrative purposes only and does not constitute financial advice.