How much pension should I have at 24?

The median UK pension pot at age 24 is around £3,500. However, whether that is enough depends on the retirement lifestyle you want. For a moderate retirement (£31,300/yr), you would need a pot of roughly £395,960 by age 67, assuming full state pension.

What is the average pension pot at 24 in the UK?

Based on ONS data, the median pension pot for someone aged 24 in the UK is approximately £3,500. The mean (average) is typically higher because a small number of very large pots skew it upward — the median is a more useful benchmark for most people.

Am I behind on my pension at 24?

It depends on your target. If you have £3,500 or more at age 24 and you are contributing at least £100/month, you are around the median. But the median saver is not necessarily on track for a comfortable retirement. Use a retirement readiness calculator to check whether your specific pot and contributions will meet your goals.

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Pension at 24

How much pension should you have at 24?

The median UK pension pot at age 24 is around £3,500. But is that enough? It depends on the retirement you want. Here are the numbers for all three PLSA living standards — and what you can do if there's a gap.

Median pension pot at 24

£3,500

Based on ONS Wealth and Assets Survey data (illustrative)

Typical monthly contribution

£100/mo

Years to state pension

Projected pot at 67

£168,469

Target pot at 67 by lifestyle

Getting by

£14,400/yr

£57,960

needed by 67

Median saver: 100%+ on track

Living well

£31,300/yr

£395,960

needed by 67

Median saver: 43% on track

Enjoying life

£43,100/yr

£631,960

needed by 67

Median saver: 27% on track

Assumes full state pension (£11,502/yr from 67), retirement to age 87, and median pot with typical contributions growing at 5% minus 0.75% fees.

What extra contributions from 24 could produce by 67

£100/month

+£146,775over 43yr

£200/month

+£293,550over 43yr

£300/month

+£440,325over 43yr

£500/month

+£733,874over 43yr

These are additional contributions on top of what you already save. Growth assumed at 5% nominal minus 0.75% fees.

Want your personal score?

The median tells you where most people are. Our retirement readiness calculator tells you where you are.

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Early career — what to think about at 24

At 24, most people have barely started thinking about pensions — and that's exactly why starting now is so powerful. Every pound contributed in your early twenties has over 40 years to compound, which means even modest contributions now can outgrow much larger sums invested later.

If you're auto-enrolled, your employer is already contributing alongside you. The legal minimum is 8% of qualifying earnings (3% employer, 5% you). At this age, that alone puts you ahead of the many people who opt out.

The single best move you can make right now is to not opt out, and to increase your contribution by even 1% if you can afford it. The difference in take-home pay is barely noticeable. The difference in your pension at 67 is enormous.

Useful calculators

Pension by age

Age 25 Age 30 Age 35 Age 40 Age 45 Age 50 Age 55 Age 60 Age 65

Things to consider

•Median pot figures are illustrative estimates derived from ONS Wealth and Assets Survey data. Your actual pot depends on your contribution history, employer match, fund choice, and fees.
•Target pots use the PLSA Retirement Living Standards (2024/25 single-person figures) and assume full state pension from age 67, with retirement lasting to age 87.
•Projections use 5% nominal growth and 0.75% annual fees. Actual returns will vary. Figures are in nominal terms and do not account for inflation.
•Being above or below the median says nothing about whether you personally are on track — it depends on your target lifestyle, other savings, property wealth, and state pension entitlement.
•This is general information, not personal financial advice. For personalised guidance, speak to an FCA-regulated financial adviser.

This calculator provides estimates based on 2025/26 tax rates and is not financial advice. Scottish taxpayers are subject to different income tax rates and bands. The calculations assume your salary is your only source of income and do not account for benefits in kind or other taxable income.

For personalised guidance on your pension contributions, speak to an FCA-regulated financial adviser. You can find one via Unbiased or VouchedFor.