Retirement Age Calculator
Enter your current situation and target retirement income to find out at what age your pension pot could sustain your desired lifestyle. The UK State Pension age is currently 66, rising to 67 by 2028.
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All figures are in today's money (not inflation-adjusted).
Related: Pension Calculator · Retirement Savings
How the Retirement Age Calculator works
This calculator projects how your pension pot will grow over time based on your current savings, monthly contributions, and an assumed annual investment growth rate. It then compares the projected pot against the amount needed to sustain your target monthly income over your chosen drawdown period, using a standard present value of annuity formula.
The UK State Pension age is currently 66 and is set to rise to 67 by 2028. The full new State Pension is worth approximately £11,502 per year in 2024/25. This calculator models private pension savings only — you should factor in State Pension income separately when planning your retirement.
All figures are in today's money and do not account for inflation. Real-terms investment returns after inflation are typically lower than nominal rates. Use this tool as a starting point and speak to a regulated financial adviser for personalised retirement planning.
Frequently asked questions
What is the UK State Pension age?
The UK State Pension age is currently 66 for both men and women. It is legislated to rise to 67 between 2026 and 2028, and further increases to 68 are under review. You can check your personal State Pension age at gov.uk.
Can I retire before the State Pension age?
Yes. You can access most private and workplace defined contribution pensions from age 55 (rising to 57 in 2028), regardless of the State Pension age. Early retirement means you will need a larger private pension pot to bridge the gap until State Pension payments begin.
How much do I need to retire early in the UK?
A common rule of thumb is to multiply your desired annual income by 25 (based on a 4% safe withdrawal rate). For example, if you want £30,000 per year, you would typically need a pot of around £750,000. However, this varies with investment returns, inflation, and how long you need the money to last.
What is FIRE (Financial Independence, Retire Early)?
FIRE is a movement focused on aggressive saving and investing to achieve financial independence well before traditional retirement age. UK followers typically aim to accumulate 25x their annual expenses, then live off investment returns. Variants include Lean FIRE (frugal lifestyle), Fat FIRE (higher spending), and Barista FIRE (semi-retirement with part-time income).