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Consumer > Why have a pension? > How much will I need in retirement?
How much will I need in retirement?
To work out how much income you need, think about the lifestyle you would like to have when you retire - holidays, hobbies, time with family and friends. Your financial adviser will be able to work out a realistic figure for you and help you plan how you are going to achieve that level of income.
Many people will supplement their retirement income from other sources such as interest from other savings and investments, share dividends, rental income from property or part-time work. However, a pension plan should be central to your retirement planning.
If you do not have a financial adviser, please see the How to start a pension section of this website.
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