When do you actually get to retire in the UK?

For most of us, retirement is that long-awaited chapter where alarm clocks are silenced, holidays are longer, and life finally slows down a bit. But when can you actually retire in the UK - and who decides? While it might sound like a simple question, the answer has a few twists. With changing laws, shifting pension rules, and a rising State Pension age, figuring out when you can officially clock out for good isn’t always straightforward. Whether you’re just curious or seriously planning ahead, here’s what you need to know about when retirement really begins in the UK. 

Retirement isn’t one-size-fits-all – and it rarely happens overnight 

There’s no magic number where everyone suddenly stops working. The age you retire depends on a mix of factors; how much you’ve saved, what kind of lifestyle you want, how your money is managed, and of course, your personal goals. While some people aim for early retirement and carefully plan their finances to step away when they reach, 55, others choose to keep working well beyond State Pension age simply because they enjoy what they do. 

Generally, you can start accessing a workplace or personal pension from age 55 (rising to 57 in 2028), including the option to take a tax-free lump sum. But that doesn’t mean you have to stop working then - many choose to keep going. 

On the flip side, if you're financially independent or very well-off, retiring earlier could be entirely possible.  

Whatever your path, it helps to know the facts - especially around the State Pension age, which plays a key role in most people’s retirement timeline.

What is the state pension age? 

As of 2025, the State Pension age in the UK is 66 for both men and women. 

But - and it’s a big but - things are changing.  

From 2026 to 2028, the State Pension age will gradually rise to 67. 

There are also plans to increase it further to 68 sometime between 2044 and 2046, although there’s been talk of bringing that forward - so it’s one to watch. 

Want to know your exact pension age? You can use the UK government’s official tool to check your personal State Pension age and when you’ll be able to start claiming. 

The full new State Pension in the UK for 2025/26 is £230.25 per week, but the exact amount you receive depends on your National Insurance (NI) record. To get the full amount, you’ll need 35 qualifying years of NI contributions. You can still receive a partial pension with at least 10 qualifying years. 

If you reached State Pension age before April 2016, you may be receiving the old basic State Pension, which is currently £176.45 per week. 

For many people, the State Pension alone isn't enough to cover all living costs in retirement. That’s why private and workplace pensions play a key role in retirement planning. Some individuals even choose not to claim the State Pension at all, especially if they’ve built up enough savings or income elsewhere.  

So, while the State Pension age is important, it doesn’t necessarily dictate when people retire. The decision to retire often comes down to personal finances, lifestyle goals, and whether someone feels confident they’ve saved enough to maintain the life they want. 

To find out more about State Pension timetables, follow this link to find out more. 

What is the average age of retirement in the UK? 

According to the Office for National Statistics, as reported by The Motley Fool, the average retirement age in the UK is currently 64.6. However, this figure is expected to rise in the coming years. One key reason is the shift towards more flexible and remote working, a trend accelerated by the Covid-19 pandemic. The ONS suggests that the ability to work from home may allow older workers to stay in the workforce longer, making retirement a more gradual and flexible transition for many. 

The article also states that as of January 2025, the average retirement age in the UK is 65.1 for men and 64 for women, meaning women typically retire about 13 months earlier than men. 

Interestingly, this is despite the fact that women generally need larger pension pots, as they tend to live longer. In the UK, the average life expectancy is 84 years for men and 86 years for women, highlighting the importance of careful financial planning - especially for women who may spend more years in retirement. 

The latest Wealth and Assets Survey from the Office for National Statistics shows that retirement age in the UK can vary widely depending on where you live. 

In the South West, around 19% of people are expected to work beyond the age of 70, compared to just 10% in the North East. This regional difference may reflect varying living costs and financial pressures, which can influence how long people stay in the workforce. 

On the flip side, 10% of people in the East Midlands retire before the age of 60, while in Wales and the South West, that figure drops to just 4%. 

Interestingly, the North East has the highest proportion (64%) of people retiring at the more typical age of 65 to 69, whereas in the South East, only 55% retire within that same age bracket - highlighting just how much regional economics can shape retirement decisions.  

We've written an article explaining why having a private pension is just as important as the State Pension. Read on to discover why it's essential to supplement your State Pension with a private pension to secure a more comfortable and financially stable retirement. 

What can I do to make sure I retire when I want to?

Retiring when you want requires planning and consistent action. 

Set a clear retirement goal 

Age & lifestyle: Decide at what age you want to retire and the kind of lifestyle you envision. Will you travel? Downsize? Stay active in work or hobbies? 

Estimate expenses: Calculate how much money you will need to live comfortably. Consider housing, healthcare, entertainment, and inflation. 

Start saving early 

Automatic savings: Set up automatic contributions to your retirement accounts. This forces you to save before you have a chance to spend. 

Maximise contributions: Contribute the maximum allowed to tax-advantaged retirement accounts, such as ISAs and pensions. This can help lower your taxable income now and grow your wealth over time. 

Employer matching: If your employer offers a retirement plan with matching contributions, try to contribute enough to take full advantage of the match. 

Invest wisely 

Diversify: Spread your investments across different asset classes - stocks, bonds, real estate, etc - to manage risk. 

Long-term growth: Focus on investments that are likely to grow over time, such as stocks, which tend to outperform other asset types in the long run. 

Rebalance regularly: Over time, you might need to adjust your portfolio to align with your risk tolerance as you approach retirement. 

Control your spending 

Don’t live beyond your means: Practice saving by budgeting and cutting unnecessary expenses. The more you save now, the more you'll have for retirement. 

Debt reduction: Aim to pay off high-interest debts, like credit cards, as soon as possible. This will free up money to contribute to retirement savings. 

If you're curious about what your retirement planning could look like, be sure to check out our latest blog for valuable insights and guidance. 

Consider additional income streams 

Side hustles: Look for ways to earn extra income, especially early in your career. You can use this money to boost your retirement savings. 

Property investment: Some people invest in rental properties or real estate as a way to create passive income for retirement. 

Track your progress 

Retirement calculator: Use online tools to project how much you need to save and how much your current savings will grow over time. 

Annual check-in: Review your retirement goals yearly to make sure you're on track. Make adjustments based on changes in your income, expenses, or market conditions. At Reeves Independent we offer quarterly reviews – ensuring you are well on the road to achieving your goals.

Prepare for unexpected expenses 

Emergency fund: Keep an emergency fund to cover unplanned expenses. This will prevent you from needing to dip into retirement savings. 

Be flexible with retirement timing 

While you may have a target age for retirement, be open to adjusting that timeline if your financial situation changes or if you want to work longer for personal or financial reasons.   

Consult a financial adviser 

A professional, such as Reeves Independent, can help create a tailored plan for your retirement, ensuring you're on track and advising you on how to optimise your savings, investments, and tax situation. 

If you're wondering why having a financial adviser is crucial, read our article to understand how it plays a vital role in the retirement planning puzzle. 

The more you plan now, the more control you'll have over your retirement and the flexibility to retire when you want to! 

How Reeves can help you achieve your retirement goals 

At Reeves, we understand that retirement planning can be overwhelming. That's why we’re here to help you make informed decisions about when and how to retire. Whether you’re aiming for early retirement or looking for ways to maximise your income when the time comes, we can offer personalised advice tailored to your unique needs. 

Our expert team at Reeves can guide you through pension planning. We help you assess your current pension situation and advise on the best strategies to ensure you’re on track to retire when you desire. We can also help you with savings and investments, by enabling you to optimise your savings and investments, giving you the tools you need to boost your retirement funds. 

Furthermore, we can help with tax efficiency. We’ll ensure that your retirement funds are tax-efficient, allowing you to keep more of your hard-earned savings. 

Book a free review today 

Starting your journey toward achieving your retirement goals is just a step away. Book a free review with our expert team at Reeves today. Together, we’ll create a retirement plan that allows you to retire on your terms, when you want, with the peace of mind that you’ve planned ahead. 

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