How much pension should a 57 year old have UK?

Target 7x salary by 57. On £70,000, that's £490,000. With 10 years until State Pension, the decisions you make now directly shape retirement income.

When is State Pension for a 57 year old UK?

If you're 57 in 2026 (born 1968-1969), your State Pension age is 67. That's 10 years away.

Can I afford to retire at 57 UK?

Challenging. You need to fund 10 years until State Pension. At £25,000/year, that's £250,000 just for the bridge. Many 57-year-olds find part-time work more sustainable than full retirement.

Should I take my pension at 57 UK?

Only if retiring or need income. If still working, keeping pension invested maximizes growth. Access decisions should be strategic, not emotional.

Money Advice for 57 Year Olds UK — Decade to State Pension | PocketWise

Money Advice for 57 Year Olds UK — Decade to State Pension

Financial guide for 57 year olds UK. Decade to State Pension, pension access decisions, investment management, income planning, and retirement countdown.

By PocketWise · 14 April 2026 · 2 min read

At 57 (the new normal minimum pension age from 2028), you have exactly a decade until State Pension. This is a critical point for finalizing retirement strategy. Here’s your guide.

Financial Targets at 57

Area	Target
Emergency fund	12 months expenses
Pension pot	7x salary
Total investments	£430,000-800,000
Net worth	£800,000-1,500,000

Pension at 57

Where You Should Be

On £75k salary	Target Pot
7x salary	£525,000
Minimum	£450,000

Growth from 57

Monthly	At 67 (10 years)
£500	£85,000
£750	£125,000
£1,000	£165,000
£1,500	£250,000

Key Dates

From 57	Years
To 60	3
To 65	8
To 67	10

Pension Access Decisions

Common Scenarios

Situation	Strategy
Still working, don’t need it	Keep invested
Retiring now	Access with plan
Part-time work	Supplement with small drawdown
Made redundant	Access minimum needed

If Accessing

Question	Answer
25% lump sum?	Via drawdown over time is often better
Withdrawal rate?	3.5-4% sustainable
Investment?	Keep some growth assets
Tax?	Manage carefully

State Pension: 10 Years to Go

Priority Actions

Action	NOW
Check forecast	gov.uk/check-state-pension
Count NI years	How many?
Fill gaps	Deadline awareness
Plan deferral?	Optional

Buying Missing Years

If Short of 35	Consider buying
Cost per year	~£900
Annual benefit	~£300 for life
ROI	Excellent

Investment Allocation at 57

Asset	%
Equities	10-20%
Bonds	60-70%
Cash	15-20%

If Drawing Down

Timeframe	Asset
0-3 years	Cash
3-7 years	Bonds
7+ years	Equities

Retirement Income Planning

Bridge to State Pension

Retire At	Bridge Years	At £25k/yr
57	10	£250,000
60	7	£175,000
65	2	£50,000

After State Pension

Sources	Annual
State Pension	~£12,000
Private pension (4%)	From pot
Total	Combined

Working Decisions

Each Extra Working Year

Benefit	Impact
Extra contributions	More pot
No withdrawals	Pot preserved
Delayed access	More growth
State deferral	5.8% per year

Part-Time Option

Benefit	Value
Ongoing income	Reduces drawdown
Pension continuing	Still growing
Gradual transition	Easier adjustment
Social connection	Often valuable

Health and Insurance

Considerations

Factor	Impact
Health issues emerging?	May affect work
Life expectancy	Retirement length
Long-term care	Future possibility
NHS entitlements	Free prescriptions from 60

Estate Planning

Review

Document	Current?
Will	□
LPAs	□
Pension beneficiaries	□
Insurance trusts	□

Common Mistakes at 57

Mistake	Better
Full retirement too early	Consider part-time
Over-withdrawing pension	Sustainable rate
Ignoring State Pension	Check and fill gaps
Too conservative too soon	Still need some growth
No income plan	Calculate carefully

The 57 Checklist

Action	Status
Pension access strategy	□
State Pension checked	□
NI gaps filled	□
Investment allocation	□
Retirement income plan	□
Working decision made	□
Estate planning current	□