Retirement Budget Calculator

Minimum, Moderate or Comfortable · pick your target lifestyle, see the gap after the State Pension, and the pot and monthly saving that close it.

Pension Pot You Need at 67
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Target Income
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Guaranteed Income
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Gap to Fill / Year
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Pot via Annuity (7%)
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Projected Pot from Current Savings
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Income Layers vs Your Target
Retirement Living Standards · £/Year
Standard Single Couple What It Buys
Minimum£14,400£22,400Needs covered, UK holiday, no car
Moderate£31,300£43,100Small car, 2 weeks abroad, more eating out
Comfortable£43,100£59,0003 weeks abroad, theatre, generous budgets
PLSA Retirement Living Standards, latest published figures · assumes no rent or mortgage.

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Retirement Budget FAQs

How much income do I need to retire in the UK?
The PLSA Retirement Living Standards suggest a single person needs about £14,400 a year for a Minimum lifestyle, £31,300 for Moderate and £43,100 for Comfortable. Couples need roughly £22,400, £43,100 and £59,000 because housing and bills are shared. All figures assume you own your home outright by retirement.
How big a pension pot do I need?
Take your target income, subtract guaranteed income like the State Pension (about £12,547/year when full), then multiply the remaining gap by 25 for the 4% rule · or divide by ~7% for an annuity. A single person targeting Moderate with a full State Pension needs to generate about £18,750/year: roughly £470,000 at 4% withdrawals, or £270,000 via an annuity at 7%.
What do the three standards actually buy?
Minimum covers all needs plus a little fun: about £50/week on groceries, a week's UK holiday, no car. Moderate adds a small car, a fortnight abroad and regular meals out. Comfortable adds three weeks abroad, theatre trips, generous clothing and home maintenance budgets. The PLSA publishes the full shopping-basket detail.
Does the State Pension count toward the target?
Yes, and it does the heavy lifting. A full new State Pension pays ~£12,547/year, nearly covering the single Minimum standard by itself. A couple with two full State Pensions has ~£25,000 guaranteed · already above the couple Minimum. Check your forecast and fix NI gaps with our NI Top-Up tool before doing anything else.
What if I will still rent in retirement?
Add your full annual rent on top of the standard, because the published figures assume outright home ownership. Renting at £1,000/month adds £12,000/year to the target, which at the 4% rule means an extra £300,000 of pot · the single biggest planning difference between owners and renters.

For informational purposes only · Not financial advice · PLSA Retirement Living Standards, latest published figures · Projections assume 5% growth, 4% withdrawal rule, annuity 7%, retirement at 67 · Inflation not modelled · Figures gross of income tax