Can you retire at 70?
Retiring at 70 means your state pension has been paying out for 3 years already. With fewer years of drawdown ahead, you need a smaller pot — but you also had fewer years to build it.
| Start saving at | Getting by | Living well | Enjoying life |
|---|---|---|---|
| Age 25 (45yr) | £31/mo | £208/mo | £332/mo |
| Age 30 (40yr) | £40/mo | £268/mo | £427/mo |
| Age 35 (35yr) | £52/mo | £350/mo | £558/mo |
| Age 40 (30yr) | £68/mo | £464/mo | £741/mo |
| Age 45 (25yr) | £93/mo | £632/mo | £1,008/mo |
| Age 50 (20yr) | £131/mo | £893/mo | £1,424/mo |
These targets assume starting from zero. Your situation is different. Check your personalised retirement readiness score.
- You're 25 and want to retire at 70? The average 25-year-old has £4,500→
- You're 30 and want to retire at 70? The average 30-year-old has £13,000→
- You're 35 and want to retire at 70? The average 35-year-old has £29,000→
- You're 40 and want to retire at 70? The average 40-year-old has £50,000→
- Is £300,000enough to retire? →
- Compare: retiring at state pension age (67) →
Retiring at 70 means working beyond the current state pension age of 67. While not everyone chooses this, those who do benefit from several compounding advantages: 3 extra years of contributions, 3 extra years of investment growth, and 3 fewer years of drawdown.
Each year you delay retirement has a triple benefit — more goes in, more time to grow, less time to spend it. Working even 2–3 years beyond 67 can increase your sustainable retirement income by 20–30%, which can be the difference between a minimum and moderate retirement.
If you're working past 67 not by choice but because your pot isn't large enough, focus on maximising the final years: increase contributions, ensure you're getting the employer match, and check that your investments aren't in an overly cautious "lifestyle" fund that de-risks too early. You should also check whether you can defer your state pension — each year of deferral increases the annual payment by approximately 5.8%.
- •Target pots use the PLSA Retirement Living Standards (2024/25 single-person figures). Your actual needs depend on housing costs, health, location, and lifestyle preferences.
- •The state pension gap calculation assumes zero state pension before age 67. If you have a deferred state pension or other guaranteed income, your required pot may be lower.
- •Monthly contribution estimates assume 5% nominal growth, 0.75% annual fees, and starting from £0. If you already have a pot, you need less.
- •Figures are in nominal terms and do not account for inflation. The real cost of retirement will be higher in future pounds.
- •The minimum pension access age is 55, rising to 57 from April 2028. You cannot access a defined contribution pension before this age without exceptional circumstances.
- •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.