Retirement Calculator — UK
Find the monthly pension/ISA saving needed on top of the 2026/27 State Pension, with UK auto-enrolment and lump-sum rules built into the guide below. Free, no signup.
How much do you need to retire in the UK?
UK retirement income is normally built from three layers: the State Pension, a workplace pension (auto-enrolment) and, optionally, a SIPP or ISA. The State Pension alone rarely covers a comfortable retirement, so the calculator above estimates the monthly personal saving needed on top of it, using the 4% rule (below) to size the target pot.
The new State Pension in 2026/27
From April 2026 the full new State Pension is £241.30 a week (about £12,548 a year), up 4.8% on 2025/26's £230.25, under the triple lock — the rule that increases the State Pension each year by whichever is highest of average earnings growth, CPI inflation, or 2.5% (GOV.UK, accessed 24 September 2026; House of Commons Library, accessed 24 September 2026). For 2026/27 the 4.8% rise tracked earnings growth, which came in above both CPI and the 2.5% floor. To get the full amount you generally need 35 qualifying years of National Insurance contributions or credits; you need at least 10 qualifying years to get any new State Pension at all (GOV.UK, accessed 24 September 2026; GOV.UK, accessed 24 September 2026).
State Pension age — and the rise to 67
The State Pension age is currently 66. Under the Pensions Act 2014 it is rising to 67 between 2026 and 2028, and a further rise to 68 is legislated for 2044–2046, though the government reviews the timetable at least every five years and that later date could change (GOV.UK, accessed 24 September 2026). Check your own State Pension age and forecast on GOV.UK, since it depends on your date of birth.
Workplace pensions and the tax-free lump sum
Under automatic enrolment, the legal minimum workplace pension contribution is 8% of qualifying earnings, of which your employer must pay at least 3% (with you and tax relief covering the rest) — for 2026/27, qualifying earnings run from £6,240 to £50,270 a year (The Pensions Regulator, accessed 24 September 2026). When you access a defined-contribution pension, you can normally take up to 25% as a tax-free lump sum, capped at a lump sum allowance of £268,275 across all your pensions (GOV.UK, accessed 24 September 2026). Pension contributions also get tax relief up to an annual allowance, generally £60,000 (GOV.UK, accessed 24 September 2026).
The 4% rule (a rule of thumb, not a guarantee)
- The "4% rule" is a rule of thumb, not a UK government or regulatory standard: it suggests withdrawing about 4% of your private pension/ISA pot in the first year of retirement, then adjusting that amount for inflation, has historically lasted around 30 years. It implies a target pot of roughly 25× your annual expenses on top of your State Pension.
- Treat it as a planning starting point, not a promise — real outcomes depend on markets, how long you live, and your flexibility to spend less in a downturn.
- Starting earlier dramatically lowers the monthly amount needed, thanks to compounding and employer matching. The calculator above estimates the monthly saving needed to reach your target.
Frequently Asked Questions
How much is the full new State Pension in 2026/27?
£241.30 a week (about £12,548 a year) from April 2026, a 4.8% rise on 2025/26 under the triple lock. You need 35 qualifying National Insurance years for the full amount, and at least 10 to get any new State Pension.
What is the State Pension age, and is it rising?
It's currently 66. Under the Pensions Act 2014 it rises to 67 between 2026 and 2028, and is legislated to rise to 68 between 2044 and 2046, though that later date is reviewed regularly and could change.
How much does my employer have to pay into my workplace pension?
Under auto-enrolment the legal minimum total contribution is 8% of qualifying earnings, and your employer must pay at least 3% of that — you and pension tax relief make up the rest.
Can I take a tax-free lump sum from my pension?
Usually yes — up to 25% of your pension pot, capped by the lump sum allowance of £268,275 across all your pensions combined.
Sources
- GOV.UK — New State Pension: what you'll get (accessed 24 September 2026)
- House of Commons Library — Benefits uprating 2026/27 (accessed 24 September 2026)
- GOV.UK — New State Pension: eligibility (accessed 24 September 2026)
- GOV.UK — State Pension age timetable (accessed 24 September 2026)
- The Pensions Regulator — Auto-enrolment contributions (accessed 24 September 2026)
- GOV.UK — Tax on your private pension: lump sum allowance (accessed 24 September 2026)
- GOV.UK — Tax on your private pension: lump sum payments and annual allowance (accessed 24 September 2026)