What's the minimum pension pot

ajbell

That you would consider retiring on at 55.
No debts, house paid for.

coyrls

Required gross annual income x 25 x 1.2

Number75

Minimum £820K

ianthy

I think £750k absolute min but my dream of buying a sports car and yacht would have to go.

ischofie1

For me £600k but I do have a £5k P/A DB to kick in at 65 & upper rate SP kicks in at 67.

BLB53

That you would consider retiring on at 55.
No debts, house paid for.

Depends how frugal a lifestyle you can accept. For me living 'up north' it is £10K x18 to get me to state pension age so £180,000.

Muscle750

Im 54 seems im abit "adrift" from the quoted figures on my tinpot private sector pension having had the FS ripped from under our feet 10 years ago. Plus now of course with companies possibly been able to reduce their pension liabilties if they are showing poor results which opens it upfor companies to show false accts so the pensions are ripped apart further

bowlhead99

Muscle750 wrote: »

Im 54 seems im abit "adrift" from the quoted figures on my tinpot private sector pension having had the FS ripped from under our feet 10 years ago.

Ah, hi, I remember you from such threads as "I'm envious of what other people have got", and "I won't admit that getting FS pension for the first 20+ years of my career means I'm better off than the people who never even had a sniff of a FS pension, because I'm not as lucky as the luckiest, and I just want to rant".:D

Back to the OPs question, I probably wouldn't want to stop work forever with potentially 40-50 years of retirement ahead of me without having built up about three quarters of the lifetime allowance in the DC pot. Realistically the house won't be paid for by 55 anyway, nor is my pension building that fast, so retirement at 55 isn't in my game plan.

System

Per couple or per person?

RuleTheWorld

coyrls wrote: »

Required gross annual income x 25 x 1.2

this sounds on the money to me

RuleTheWorld

bowlhead99 wrote: »

Ah, hi, I remember you from such threads as "I'm envious of what other people have got", and "I won't admit that getting FS pension for the first 20+ years of my career means I'm better off than the people who never even had a sniff of a FS pension, because I'm not as lucky as the luckiest, and I just want to rant".:D

Back to the OPs question, I probably wouldn't want to stop work forever with potentially 40-50 years of retirement ahead of me without having built up about three quarters of the lifetime allowance in the DC pot. Realistically the house won't be paid for by 55 anyway, nor is my pension building that fast, so retirement at 55 isn't in my game plan.

I had final salary pension for the first ten years but now in a DC scheme I actually think there are elements of a DC that makes it better than DB as long as you are paying in enough