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How much do I need to retire?

You've got questions, we've got answers.

If you're saving for retirement, chances are you’ve got questions. Don’t worry. You’re not alone.

One of the most common questions we get asked is “How much do I need to retire?”. Saving for your future poses some important questions that deserve reliable answers. With so much information out there, it’s hard to know where to turn or who to trust.

The run up to retirement poses some of life’s biggest questions. It’s vital to get the right answers at a crucial stage in your life. We help clients get answers they can trust time and time again.

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Important information - The information on our website isn’t personal advice, ask for financial advice if you're not sure what's best for your situation. Investments can go down as well as up in value, so you could also get back less than you put in. You can normally access a pension from age 55 (rising to 57 from 2028).


Get answers you can trust.

If you’re saving for retirement, there are some essential questions that need answers. We’re here to help.

You’ll need to know how much you should pay into your pension, and if it’s on track to provide you the income you might want or need in retirement.

 How much do I need to retire?

Learn more about the three national income targets which could help you decide how much money you need to retire.

Read article

 How much should I pay into my pension?

We explore what to consider when deciding how much to contribute, and why it pays to start early.

Read article

 Is my pension on track?

Use this pension calculator to find out what your pension might pay in retirement.

Try our calculator

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Why choose the HL Self-Invested Personal Pension (SIPP)?

  • Flexible payments - Monthly direct debits from as little as £25 a month, with the ability to pause or cancel payments if you ever need to.
  • Invest where and how you want to- You can pick your own investments, select one of our ready-made portfolios, or pay a financial adviser to choose investments for you.
  • Freedom at retirement - With the HL SIPP, you're free to choose from all the main retirement options, including taking a secure or flexible income.

More on the HL SIPP

Add a little, build a lot

The power of regular investing

Invest from as little as £25 a month by direct debit.

  • It's good discipline - it stops knee jerk decisions, and removes the temptation to try and time the market.
  • You'll benefit from 'pound-cost averaging' - investing automatically helps smooth out the bumps in the market, spreading your money across different market conditions.
  • Share buying is free - there’s no fee if you buy shares through direct debit, compared to £11.95 for lump sums. You'll only pay our dealing commission when you sell. Other charges or taxes may apply when you buy or sell investments. See our charges.

How to set up a direct debit

How much should I invest?

£ a month


Your results

About this calculator: This calculator is an example - it doesn’t show what your investments will actually be worth. And doesn't include any pension tax relief that you may receive. Remember investments can go down as well as up in value so you could get back less than you put in.

To make these calculations, we've included an annual charge of 1.25%, but this could be lower or higher, depending on the investments you hold. We haven’t factored in inflation. These results are based on a growth rate of 5%, unless you have adjusted the growth rate in 'Additional options'.

Photo of Holli
The HL SIPP is extremely flexible which suits me perfectly. My income isn’t regular. I don’t get paid the same day each month, so I needed a pension where I could make contributions whenever suited me. I don’t have to worry that I’ll miss a payment or get charged if I don’t have the funds to cover it.

Find out how Holli has used the HL SIPP to help save towards retirement.