Key findings
- Starting at 22 on the minimum could build about £209,279 in today's money by 67; starting at 40 about £100,077.
- Paying 15% of your whole salary from 30 could build about £435,928, against £155,022 on the minimum.
- The full new State Pension adds £12,548 a year on top, if you have 35 qualifying years.
- These are projections, not promises: real growth will be higher or lower.
Work out your own
Put in your own age, salary, pot and contributions, with your State Pension.
Open the pension calculatorQuestions and answers
Why does starting early make so much difference?
Money paid in at 22 has 45 years to grow; money paid in at 40 has 27. Growth compounds, so the early years can be worth more than the later ones even though your pay is lower.
What does "today's money" mean?
The pot is shrunk by 2% a year, the Bank of England's inflation target, so it shows what it would buy at today's prices.
Is the minimum enough?
That depends on what you will need, which no table can tell you. The minimum is 8% of pay between £6,240 and £50,270, which on £35,000 is less than 8% of your whole salary.
Full results: pot at 67, in today's money
| Start saving at | Minimum: 8% of qualifying earnings | 12% of whole salary | 15% of whole salary |
|---|---|---|---|
| 22 | £209,279 | £511,000 | £638,750 |
| 30 | £155,022 | £348,743 | £435,928 |
| 40 | £100,077 | £201,853 | £252,317 |
| 50 | £55,469 | £100,937 | £126,171 |
Contributions include your share, tax relief and your employer's. You could usually take 25% of the pot tax-free.
Methodology
We used the same calculation as our pension calculator. Each person starts with no pension, earns £35,000 a year, and gets pay rises of 3.7% a year (ONS average earnings growth, August 2026). Contributions are paid at the end of each year on that year's pay. Investments grow at 5% a year, the FCA's middle projection rate, with no charges taken off; real pensions have charges, which lower the result. Pots are shown in today's money using the Bank of England's 2% inflation target. Everyone retires at 67. The State Pension figure is the full new State Pension for 2026/27.
This guide explains the rules; it is not personal financial advice.