How to read your result
You'll see three numbers. Cautious assumes 4% growth a year after fees, middle 6%, and strong 8%. Real markets don't grow smoothly: some years fall, some jump. The range is there so you plan around a sensible middle, not a best case.
Results are in today's money. £30,000 in 20 years won't buy what £30,000 buys now, so we take off inflation of 2.5% a year. That way the number means something you can picture.
How much should I have in my pension at 50?
There's no single right number. It depends on the life you want, whether you'll own your home, and what State Pension you'll get. A useful starting point in the UK is the Retirement Living Standards from Pensions UK, which estimate yearly spending for one person outside London in 2026:
| Standard | A year | About a week |
|---|---|---|
| Minimum | £13,900 | £267 |
| Moderate | £32,700 | £629 |
| Comfortable | £45,400 | £873 |
The full new State Pension (£241.30 a week in 2026/27) gets you close to the minimum on its own. Your own savings fill the gap above that. Use the What do I need? calculator to see what that gap means in weekly savings.
If you're 50 with little or nothing saved, you're not alone, and it isn't too late. You likely have 17 years to State Pension age. As the Retirement calculator shows, even £20 a week started at 50 grows to more than £30 a week started at 55.
How much will my pension be?
Your retirement income usually comes from three places: the State Pension (or Social Security in the US), any workplace pensions, and your own savings. Check your State Pension forecast on GOV.UK, and look for old workplace pensions you may have forgotten. The UK government's free Pension Tracing Service can help find them.
To turn a pot into an income, a common rule of thumb is taking about 4% a year. A £100,000 pot would give around £4,000 a year. It's a guide, not a promise that the money will last.
Is it too late to start investing at 50 or 55?
No. Time still matters a lot at 50: money invested now has 15 or more years to grow before most people retire, and many people keep investing into their 60s. Starting small and staying consistent beats waiting for the perfect moment. The biggest risk for late starters isn't a bad year in the markets. It's not starting.
Why tax relief and employer money matter
In the UK, paying into a pension gets basic-rate tax relief, so £20 from you becomes £25 in your pension. Higher-rate taxpayers can claim more. In a workplace pension your employer adds money too. In the US, many employers match part of what you put into a 401(k). This is extra money on top of yours, which is why the calculators let you include it.
All the assumptions behind these numbers
- Growth scenarios after fees: cautious 4%, middle 6%, strong 8% a year.
- Money is added monthly (your weekly amount × 52 ÷ 12) and growth is compounded monthly.
- "Today's money" removes inflation of 2.5% a year. The retirement and "What do I need?" calculators assume you raise your payments in line with inflation.
- The full new State Pension is £241.30 a week in 2026/27 and needs 35 qualifying National Insurance years. Check your own forecast at gov.uk/check-state-pension.
- Yearly income uses a rule of thumb of taking 4% of the pot each year.
- Tax on income in retirement, your account's own charges and future rule changes are not included.
- Retirement Living Standards: Pensions UK, 2026 figures, one person outside London.
General information, not financial advice. These are illustrations, not promises. Investments can fall as well as rise and you may get back less than you put in. If you're unsure what's right for you, speak to a regulated financial adviser.