How much pension should you have at 45?
The median UK pension pot at age 45 is around £68,000. But is that enough? It depends on the retirement you want. Here are the numbers for all three PLSA living standards — and what you can do if there's a gap.
The median tells you where most people are. Our retirement readiness calculator tells you where you are.
Check your scoreAt 45, retirement is no longer abstract — it's within planning distance. This is when most people first sit down and actually calculate whether their pension will be enough. For many, the answer is sobering.
The good news: you're likely earning more than you ever have, and your major expenses (mortgage, childcare) may be easing. This creates headroom to increase pension contributions significantly. Even 5 years of higher contributions from 45 can add tens of thousands to your pot.
This is also the age to start thinking about your pension's investment mix. If you're in a default workplace fund, it may be heavily weighted toward equities — which is appropriate. But if you're in an overly cautious fund, you could be sacrificing years of growth with nearly two decades still to go.
- •Median pot figures are illustrative estimates derived from ONS Wealth and Assets Survey data. Your actual pot depends on your contribution history, employer match, fund choice, and fees.
- •Target pots use the PLSA Retirement Living Standards (2026 single-person spending outside London, excluding rent and mortgage payments) and assume full state pension from age 67, with retirement lasting to age 87.
- •Projections use 5% nominal growth and 0.75% annual fees. Actual returns will vary. Figures are in today's money with 2.5% inflation and contributions that rise with inflation. Targets allow for illustrative 2026/27 England, Wales and Northern Ireland pension income tax; withdrawals are fully taxable and Scottish tax differs.
- •Being above or below the median says nothing about whether you personally are on track — it depends on your target lifestyle, other savings, property wealth, and state pension entitlement.
- •This is general information, not personal financial advice. For personalised guidance, speak to an FCA-regulated financial adviser.
Estimates use 2026/27 tax rates. Illustrative 2026/27 England, Wales and Northern Ireland income tax; pension income only, fully taxable, no tax-free withdrawals or other allowances. Scottish tax differs.