How long will a £500,000 pension pot last — half a million in drawdown.

£500,000 produces £20,000/year at the 4% rule. Combined with the full state pension's £11,502, that's £31,500/year — exactly the PLSA 'moderate' retirement standard. Most historical simulations show this pot lasting indefinitely at the 4% rate, even with conservative growth assumptions. The interesting question for £500k pots isn't whether they last but how to optimise the drawdown for tax efficiency and inheritance planning. Pension assets generally fall outside your estate for inheritance tax purposes, so there's a strong argument for drawing other assets first (ISAs, GIAs) and leaving the pension to grow as long as possible. This is the pot size at which professional advice almost always pays for itself in tax savings alone.