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How much do I need to retire?

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

If you’re self-employed, saving for retirement falls entirely on your shoulders. And 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?”. 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.

*As ranked on Newsweek's most Trustworthy Global Companies List 2023.

Important information - The information on our website isn’t personal advice. If you're not sure what's best for your situation, you should ask for financial advice. Investments can go down as well as up in value, so you could also get back less than you put in. Pension and tax rules can change and any benefits will depend on your circumstances.


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 with 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

 Lifetime ISA Vs Pension: which is best for you?

Don’t know whether to save into a Lifetime ISA or a pension?

Find out more

 How do I ask for advice?

Our financial advisers will help you prepare your pension and wider finances so that you can retire on your terms.

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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.