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Initial Details

On this page you will find out the earliest age (in years and months) at which you can afford to retire. If you know the value of your pension fund and other savings, the process will take just a couple of minutes to complete. To begin with, please provide your current age.

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There are just two sections to complete below that reflect the two sides of the retirement planning equation:

What You Need

This is the income you require to cover all of your expected expenses and spending in retirement. You need to choose one of the three standards of living to aim for in retirement defined by the widely recognised Retirement Living Standards.

What You Can Afford

This is the tricky bit - calculating the income you can afford throughout retirement without your funds running out. You will be asked to input the current value of your pension fund along with anything else that will be part of your retirement income.

Before you scroll down, please select additional functionality as required:

What You Need

How much income do you need in retirement? The widely recognised Retirement Living Standards website helps answer this difficult question by defining three standards of living and quantifying the level of income you would require for each one.

Select a standard of living to aim for in retirement:

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Premium members can fine-tune this figure to meet their personal circumstances using the Retirement Budget Calculator. This specifies expected retirement expenses using the same categories as the Retirement Living Standards Research.

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What You Can Afford

The retirement income you can afford depends on the future value of your pension fund and any other forms of retirement provision. Please indicate what forms of retirement provision you currently have and enter the details below.

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Your Partner
Pension Fund(s)
Final Salary Pension
ISA
Other Income

Please provide the current value of your pension fund to the nearest £250. If you have multiple funds, please provide a combined value.

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Premium members have access to the Early Retirement Calculator in the Assumptions section below. This enables you to experiment with taking your pension early. You can even enter the specfic early retirement factors that apply to your pension scheme.

This calculator will assume you are using a Stocks & Shares ISA to fund your retirement. If you are using a Cash ISA, please tick this box.

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The amount of your State Pension below assumes you will be entitled to the full amount. If this might not be the case due to gaps in your national insurance record, find out what your actual entitlement is at www.gov.uk and then update the value below.

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Results

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Assumptions

To investigate the effect of different growth scenarios and fund charges on your results, visit the Analysis page. You can also see charts of the breakdown of your income and the progression of your funds.

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