Average pension pot by age in the UK
Among people who have a private pension, median pension wealth climbs from £5,500 for under-25s to a peak of £145,900 at 65–74. These ONS figures measure total private pension wealth per person — workplace, personal and in-payment pensions — not a single DC pot.
Peak — age 65–74
£145,900
Median (with a pension)
£57,500
Adults with a pension
70%
Median pension pot by age — UK
Median private pension wealth for people who have a private pension, with the share of each age group who hold one. Source: ONS Wealth and Assets Survey, Great Britain, April 2020 to March 2022.
Per individual. "Median pension wealth" is for those who hold a private pension; "have one" is the share of the age group with any private pension wealth. Bars are relative to the 65–74 peak.
The averages hide a big gap
Those headline medians are only for people who have a private pension. Around 30% of UK adults have none at all. Counting everyone — including those with £0 — the median private pension wealth across all adults is just £19,700, and £86,800 for 55–64-year-olds. If your pension feels behind the headline figure, you're closer to typical than the "average pot" suggests.
Why these figures beat a typical DC pot
"Private pension wealth" isn't just your defined-contribution (DC) pot balance. It includes the capitalised value of defined-benefit (DB) pensions — the lump sum that would buy the guaranteed income a final-salary or career-average scheme promises. DB pensions are valuable and more common among older workers, which is why the 55–64 and 65–74 medians look high. If you only have a DC pot, your balance will usually be lower than these figures.
An average isn't a target
What you actually need depends on the income you want in retirement, not on matching a national median. Work backwards from your target instead: a Coast FIRE calculator shows the pot that compounds to your goal, and the annual allowance sets how much you can pay in with tax relief each year.
Frequently asked questions
What is the average pension pot by age in the UK?+
Among people who have a private pension, median pension wealth rises with age: £5,500 (16–24), £18,800 (25–34), £39,500 (35–44), £80,000 (45–54), £137,800 (55–64) and a peak of £145,900 (65–74), before falling to £59,700 for the over-75s as pensions are drawn down. These are ONS Wealth and Assets Survey figures for Great Britain, April 2020 to March 2022. Note they measure total private pension wealth per person — workplace, personal and in-payment pensions — not a single defined-contribution pot.
How much should I have in my pension by 40?+
There's no official target, but the ONS median for 35–44-year-olds with a pension is £39,500, rising to £80,000 by 45–54. A common rule of thumb is to aim for roughly your annual salary saved by 40 and three times salary by 50, but what you actually need depends on your target retirement income. Use a Coast FIRE or FIRE calculator to work backwards from the retirement you want rather than chasing an average.
Does this include the State Pension?+
No. These figures are private pension wealth only — workplace (defined benefit and defined contribution), personal and in-payment pensions. The State Pension is separate and is not a 'pot' you own: the full new State Pension was £11,502 a year in 2024/25, paid from State Pension age (currently 66). Most people rely on both private pensions and the State Pension in retirement.
Why are the figures so high at 55–64 and 65–74?+
Because 'private pension wealth' includes the capitalised value of defined-benefit (final-salary and career-average) pensions, not just defined-contribution pot balances. A DB pension promising a guaranteed income is valued at the lump sum that would buy that income, which can be large — so these medians are higher than typical DC pot sizes, especially for older workers who are more likely to hold DB pensions.
What if I have no pension at all?+
You're not alone — only about 70% of UK adults have any private pension wealth, and among the youngest and oldest groups it's lower. Across all adults including those with nothing, the median private pension wealth is just £19,700. Auto-enrolment means most employees are now opted into a workplace pension by default; starting — even late — still benefits from tax relief and, usually, employer contributions. It is rarely too late to begin.
Is this pension figure per person or per household?+
Per individual. The ONS measures private pension wealth at the person level by age and sex. A couple's combined pension wealth would typically be higher than these individual medians. Figures are from the ONS Wealth and Assets Survey, Great Britain, April 2020 to March 2022.
Source: ONS Wealth and Assets Survey, Pension wealth in Great Britain, Table 6.10, April 2020 to March 2022 (published January 2025). Data status: the ONS suspended the accredited official statistics status of the Wealth and Assets Survey from Round 8 (2020–2022 onwards) while it improves survey quality, so treat these figures as indicative. For education only — not financial advice.
Related UK pension tools
Pension Annual Allowance →
Check your £60,000 allowance and carry-forward — the limit on tax-relieved contributions.
Coast FIRE Calculator →
Find the pension/ISA pot that compounds to your retirement number with no new contributions.
Average Net Worth by Age UK →
Pension wealth is ~35% of total wealth — see the full picture by age (ONS WAS).
Pension Tax Relief →
Net pay vs relief-at-source vs salary sacrifice — which gives you the highest net contribution.
Track every pension in one place.
Add your workplace pension, SIPP and old pots — Richify keeps your total pension wealth and retirement progress up to date. Free on iOS and Android.
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