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How much do I need?

To make sure you're saving enough, you need to work out how much you’ll need, to afford the retirement that you want.

How much you need depends on how much your lifestyle will cost you. Some of the things to think about are:

Could some things cost you more?

  • Will heating the house cost more, if you’ll be at home more often?
  • Will you want more trips away, if you have time on your hands?

Could some things cost you less?

  • Will you have paid off the mortgage?
  • Will you pay less on travel, without your daily commute?

Will some things stay the same?

  • Will you still have the same grocery bill when you get to retirement?
To get an idea of how much money you might need in retirement, try our Shopping Basket game.

Or for a quick guide, the Department for Work & Pensions (DWP) has created this simple table:

Your pay at work each year (before retirement)

How much of this income could you need in retirement?

What this means each year

Less than £12,200


Up to £9,800

£12,201 to £22,400


£8,500 to £15,700

£22,401 to £32,000


£15,000 to £21,500

£32,001 to £51,300


£19,200 to £30,800

£51,301 to £75,000


£25,600 to £37,500

Don’t forget the State Pension could also add to this income, payable from State Pension Age. Further information on the State Pension, including a forecast of what your State Pension might be, can be found at

Use The Planner to see how much you might get from your Tesco Retirement Savings Plan. But remember the Planner is just a guide – your retirement savings could be less or more than the amount it calculates.