Retirement Income
Add up all your retirement income sources and check whether they cover your expected spending.
Total annual income
£29,502
Monthly income
£2,459
Surplus
£1,502
Income covers spending
Your retirement income covers your expected spending with £1,502 to spare.
The 2026/27 new State Pension is approximately £11,502/year. You need 35 qualifying years of National Insurance contributions for the full amount. Pension income above the Personal Allowance (£12,570) is taxed as income. The State Pension age is currently 66 and is scheduled to rise. Check your State Pension forecast at gov.uk/check-state-pension.
Assumptions
Based on 2026/27 UK tax rules for England. Tax bands: 20% to £50,270, 40% to £125,140, 45% above. Personal Allowance £12,570 (tapered above £100,000). National Insurance 8% on earnings between £12,570 and £50,270, 2% above. This is an educational estimate — not financial advice.