What does a pension pot worth £37,000, £150,000 and £500,000 give you?
How much money you need in your pension pot for a comfortable retirement really all depends on your lifestyle aspirations and factors such as outstanding debt.
However, there are ways to calculate how far your private pension will stretch.
Below, we give some examples of the typical annual income generated by different-sized pension pots. These are intended as a rough guide and have been compiled with the help of Lisa Tipton, director of financial planning at New World.
Will the state pension cover me?
How do you take an income from a private pension?
What income does a £37,000 pension pot give?
What income could £150,000 give?
What regular income could a £500,000 pension pot give?
You can read the full article here:
https://www.thetimes.co.uk/money-mentor/article/pension-pot-amount-average-uk-how-much/#What-income-does-a-%C2%A337,000-pension-pot-give
