Pension Bible
← Retirement readiness calculator
Pension pot analysis

Is £300,000 enough to retire on?

A £300,000 pension pot gives you £23,502/yr through drawdown plus the state pension — that's £452/week. Here's how that stacks up against what you actually need.

Is £300,000 enough?
Getting by
£14,400/yr
Yes
£300,000 is 100%+ of the £57,960 needed
Living well
£31,300/yr
No
£300,000 is 76% of the £395,960 needed
Enjoying life
£43,100/yr
No
£300,000 is 47% of the £631,960 needed
What £300,000 actually pays you
Via drawdown (4% rule)
£23,502/yr
£12,000 from pot + £11,502 state pension
= £452/week · £1,959/month
Via annuity (age 65, single life)
£31,002/yr
£19,500 guaranteed + £11,502 state pension
= £596/week · £2,584/month
How long does £300,000 last?
ANNUAL WITHDRAWAL
YEARS IT LASTS
£10,000/yr
30+years
£15,000/yr
~42years
£20,000/yr
~24years
£30,000/yr
~14years
Assumes 4% annual growth during drawdown. Does not include state pension income. Withdrawals above the growth rate deplete the pot.
These are averages. What about you?

Your retirement readiness depends on your age, contributions, and the lifestyle you want. Get your personalised score in 30 seconds.

Check your score
Related analysis
How much pension should you have at 60?
Median pot at 60: £160,000
→
How much pension should you have at 65?
Median pot at 65: £174,000
→
What a £300,000 pot means in practice

A £300,000 pension pot puts you in strong territory. Combined with the state pension, drawdown at 4% gives you around £23,502/year — comfortably above the PLSA "moderate" standard of £31,300/yr.

At this pot size, you have genuine choices: drawdown gives you flexibility and keeps your pot invested, while an annuity at 65 could lock in around £19,500/year guaranteed for life. Many people use a combination — annuity to cover essential costs, drawdown for discretionary spending.

The main risks at this level are behavioural, not mathematical. Overspending in early retirement (the "honeymoon phase"), panic-selling during market downturns, or falling victim to pension scams. A simple, low-cost global tracker fund with a systematic withdrawal plan is harder to beat than most people think.

Explore further
Drawdown calculator
Annuity calculator
Fee impact calculator
Compare providers
All pot sizes
£10k£25k£50k£75k£100k£150k£200k£250k£300k£400k£500k£750k£1M
Things to consider
  • •Drawdown income uses the 4% rule (withdrawing 4% of your pot per year). Actual sustainable withdrawal rates depend on investment returns, fees, and how long you live.
  • •Annuity rates are illustrative market averages and will vary by provider, health, and annuity type. Get multiple quotes before buying.
  • •State pension (£11,502/yr) assumes a full 35-year National Insurance record. Your entitlement may differ — check at gov.uk.
  • •Target pots use the PLSA Retirement Living Standards (2024/25 single-person figures) and assume retirement at 67 lasting to age 87.
  • •All figures are in nominal terms and do not account for inflation. The purchasing power of your pot will be lower in future years.
  • •This is general information, not personal financial advice. For personalised guidance speak to an FCA-regulated financial adviser.

This calculator provides estimates based on 2025/26 tax rates and is not financial advice. Scottish taxpayers are subject to different income tax rates and bands. The calculations assume your salary is your only source of income and do not account for benefits in kind or other taxable income.

For personalised guidance on your pension contributions, speak to an FCA-regulated financial adviser. You can find one via Unbiased or VouchedFor.