How long do you think you’ll spend in retirement? People tend to underestimate the length of their retirement, but research carried out by the ONS in 2015 shows us that people are living longer now than ever before:
It’s a good idea to think about what you’ll need to spend in retirement and it helps to create a goal to work towards. It’s not just about adding up your day-to-day expenses, you’ll need to give some thought to how you’ll spend your time in retirement and what that could cost.
Use the Office for National Statistics tool to see how long your pension savings might need to last.
Use our helpful tool to get a clearer picture of how much income you might need once you’ve retired.
Find out more about the state pension, where you can go for more information and how much you might get when you reach your state pension age.