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

FCA launches consultation on adapting to a 'changing pensions market'

FCA launches consultation on adapting to a 'changing pensions market'

Outlines regime for digital pension planning tool

Holly Roach
clock 11 December 2025 • 3 min read
Lack of focus delaying pension transfers, Origo CEO warns

Lack of focus delaying pension transfers, Origo CEO warns

Advisers share months-long delays as PensionBee’s petition calls for ten-day transfer guarantee

Sahar Nazir
clock 11 December 2025 • 6 min read
Pension IHT: A minor win for executors, a missed opportunity for HMRC

Pension IHT: A minor win for executors, a missed opportunity for HMRC

'It's a great pity HMRC couldn't have been a bit braver and taken the sensible approach'

Rachel Vahey
clock 09 December 2025 • 3 min read