Savers can draw down target retirement income for just 11 years

Report exposes retirement income gap

Jenna Brown
clock • 3 min read

Retirees can expect to draw down their target retirement income for just 11 years, according to the latest Retirement Review report.

The report highlighted the lack of savings reality versus retirement income expectation faced by retirement savers across the UK, which can be as much as 35%. The report, released today (8 May), found the average personal ‘target' pension pot for retirement is £253,701, however, the average ‘target' for personal annual income in retirement is £30,050 (up from £25,679 in 2023). The report said that given that the average age respondents expected to retire was 65.7 years, the "reality is that a pension pot of £253,701 would likely provide a target income of £30,050 for just 11 years". ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Govt moves to tackle gender pension gap with LPGS scheme changes

Govt moves to tackle gender pension gap with LPGS scheme changes

Reforms follow consultation on access and fairness in the Local Government Pension Scheme

Jonathan Stapleton
clock 03 February 2026 • 2 min read
Britain's pension ambition is rising - just as cash resilience slips

Britain's pension ambition is rising - just as cash resilience slips

'2026's 'pension resolution' wave is real. But so is the cash-cushion squeeze'

Phillip Wickenden
clock 02 February 2026 • 6 min read
Government again rejects Waspi compensation after review

Government again rejects Waspi compensation after review

DWP: Creation of compensation scheme would be ‘highly impractical’ and ‘time-consuming’

Martin Richmond
clock 29 January 2026 • 3 min read