The MyRetireAge blog

UK retirement, worked out properly.

Plain-English guides to pensions, tax and the age you could stop working, grouped by the question they answer. Every figure is run through the same engine as our calculators and checked against official sources.

Latest guide

Is £2 million enough to retire on?

Yes, comfortably, from the age you can first draw it (55 now, 57 from 2028), or from 50 with ISAs to bridge the gap. £2 million supports about £7,420 a month in today's money from 60 to 95, with a full State Pension from 67, or £6,717 a month from 55 - both well above the Pensions UK comfortable standard of £3,775. The bigger questions at this size are about tax: income tax of up to £1,921 a month on that income, and inheritance tax on unused pensions from 6 April 2027.

what £2 million supports from 60 to 95: £7,420 a month
what the same pot supports from 55: £6,717 a month

13 October 202613 min readRead the guide

AnnuitiesNew

How much annuity does £100,000 buy?

At 65, the best rate on the market on 8 October 2026 turned £100,000 into £8,172 a year (£681 a month) for life, fixed. An income that rises with inflation starts lower, at £5,564 a year (£464 a month). You get more the older you are - £10,113 at 75 - and more again if you smoke or have health conditions.

13 October 202611 min read

Pension potsNew

Is £400,000 enough to retire on?

Close to a moderate retirement if you work to 67, and £623 a month short of one if you stop at 60. £400,000 supports about £2,102 a month in today's money from 60 to 95, with a full State Pension from 67, or £2,605 a month if you stop at 67 - £120 a month short of the moderate standard for one person. Spend £2,200 a month from 60 and it lasts to about 90.

13 October 202616 min read

How much is enough?

Is your pension pot enough?

Every pot size from £100,000 to £2 million, each run through the same engine: what it pays at 55, 60, 65 and 67, how long it lasts, and where it falls short.

10 guides

£100k pot

Is £100,000 enough to retire on?

Not on its own. £100,000 supports about £1,105 a month in today's money from 60 to 95, alongside a full State Pension from 67 - and from 67 the State Pension is £1,046 of that. Its real job is to add £389 a month for life to the State Pension if you stop at 67, or to bridge a year or two before it. Both are worth having; neither is a retirement by itself.

21 September 202623 min read

£200k potNew

Is £200,000 enough to retire on?

Enough for more than a minimum retirement, but not a moderate one. £200,000 supports about £1,438 a month in today's money from 60 to 95, with a full State Pension from 67, or £1,825 a month if you stop at 67. Spend £1,500 a month from 60 and it lasts to about 88; keep to £1,326 or less and it never runs out.

13 October 202616 min read

£250k pot

Is £250,000 enough to retire on?

Enough for a minimum-plus retirement, not a moderate one. £250,000 supports about £1,604 a month in today's money from 60 to 95, alongside a full State Pension from 67, or £2,020 a month if you stop at 67. Both clear the PLSA's minimum standard of £1,150; both fall short of their moderate £2,725, by £1,121 a month at 60 and £705 at 67.

21 September 202621 min read

Also on the ladder: £300k, £400k, £500k, £750k, £1m, £1.5m, £2m

CalculatorHow long will your pot last?Pension drawdown calculator

When can you retire?

The age you could stop work

What retiring at 50, 55 or 60 actually costs, and the pot that funds a given monthly spend, with the State Pension counted properly.

4 guides

Retirement ageNew

Can I retire at 50 in the UK?

Yes, but it takes a large pot and the right mix of accounts. To spend £2,200 a month in today's money from 50 to 95 you need about £598,438, because your State Pension is 18 years away. You cannot take a private pension until 57, so about £184,800 of that has to be in ISAs or other savings. For most people that means saving £1,722 to £2,202 a month through their thirties and forties.

13 October 202616 min read

Retirement age

Can I retire at 55 in the UK?

Yes, but it now takes two things: a large pot and a plan for reaching it. To spend £2,200 a month in today's money from 55 to 95 you need roughly £513,473, because your State Pension is 12 years away. And from 6 April 2028 pensions cannot be touched before 57, so the first two years must come from ISAs or other savings.

9 September 202616 min read

Retirement planning

How much do you actually need to retire in the UK?

There is no single number, but there is a simple rule behind it: your pot only has to cover what the State Pension does not. To spend £2,200 a month in today's money you need roughly £296,043 if you stop at 67, or £429,227 if you stop at 60. A moderate £2,725-a-month lifestyle needs about £430,682 at 67.

5 September 202614 min read

Retirement age

Can I retire at 60 in the UK?

For most people yes, but it takes a noticeably bigger pot than waiting for your State Pension. To spend £2,200 a month in today's money from 60 to 95 you need roughly £429,227, because nothing else arrives until your State Pension starts at 67. Stopping at 67 instead needs only £296,043. Every year earlier costs about £19,026.

4 September 202614 min read

CalculatorWhen could you stop working?Retirement age calculator

Making it last

How long a pot lasts in drawdown

Every pot size at every spending level, the point where a pot stops running out at all, the six things that stretch it, and what an annuity pays instead.

2 guides

AnnuitiesNew

How much annuity does £100,000 buy?

13 October 202611 min read

Pension drawdown

How long will my pension last?

It depends on the pot, your monthly spending, and when the State Pension starts - in that order of surprise. A £300,000 pot supporting £2,000 a month from 60 lasts to about 84, with a full State Pension joining at 67. Spend £1,500 instead and the same pot never runs out. Spend £2,500 and it is gone by 74.

8 September 202613 min read

CalculatorHow long will your pot last?Pension drawdown calculator

Saving and tax

Where the next pound should go

SIPP, ISA or Lifetime ISA, pound for pound, and how much of your salary is actually yours to save.

3 guides

Saving for retirement

Lifetime ISA vs SIPP: which is better for retirement?

For a basic-rate taxpayer under 40 with no employer match on the table, the Lifetime ISA: £100 of take-home becomes £125, tax free from 60, where the same £100 in a SIPP becomes £106.25 after basic-rate tax on the way out, so the Lifetime ISA pays out 18% more. For a higher-rate taxpayer the SIPP wins, at £142 per £100. Employer-matched contributions beat both, and only a SIPP can be touched before 60.

29 September 202618 min read

Take-home pay

How to work out your disposable income (UK)

Take your gross salary, subtract your pension contribution, income tax, National Insurance and any student loan repayment to get take-home pay, then subtract essential outgoings - housing, bills, food and transport. What is left is your disposable income. On £38,000 with a 5% pension and a Plan 2 loan, take-home is £2,382 a month, and £1,500 of essentials leaves £882 to direct.

21 September 202617 min read

Saving for retirement

SIPP vs ISA: which is better for retirement?

Usually a SIPP or other pension, for money you will not need before 57. £100 in a pension costs a basic-rate taxpayer £80 and a higher-rate taxpayer £60. If you pay basic-rate tax in retirement it comes back as £85: 6% more than an ISA at basic rate and 42% more at higher rate. An ISA is better for money you might need before 57, including the years before 57 if you retire early, and if you pay basic rate now but expect higher rate in retirement.

10 September 202624 min read

CalculatorWhat could regular investing become?Compound interest calculator

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