Have I Enough?
Have I Enough?
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Pension outlook · worked example

Will I have a £300k pension at 24?

Yes — time is on your sideOn track for £310k by 67

Yes. Starting from the £4k an average saver your age already has, and paying in the auto-enrolment minimum of about £160 a month on the median £31k full-time salary for your age, you're on track for roughly £310k by 67 — you'd pass £300k around age 66. About 72% of that is investment growth, not money you save — you don't need a big income, you need time.

Change these numbers liveOpen the full planner

You don’t save your way to £300k — you grow it

Of the £310k pot built by 67, about £86,960 is money you put in and roughly £223,446 is investment growth — 72p in every £1 comes from compounding, not a bigger salary.

Target £300k£310kAge 24Age 67
Money you put in Investment growth £300k target

Here’s the scenario

A typical earner your age, built from ONS national medians — not a high flyer. Everything is in today’s money.

Age now
24
43 years to age 67
Median salary
£30,525
ONS median full-time pay, ages 20–29
Paid in / month
£160
Auto-enrolment minimum (you + employer)
Already saved
£4,400
ONS median pot for savers this age
Growth
5% a year
Above inflation
Target
£300k
Pension pot by 67

How the pot builds up

  • Age 24
    Not yet
    Paid in
    £4k
    Pot value
    £4k
  • Age 29
    Not yet
    Paid in
    £14k
    Pot value
    £16k
  • Age 34
    Not yet
    Paid in
    £24k
    Pot value
    £31k
  • Age 39
    Not yet
    Paid in
    £33k
    Pot value
    £51k
  • Age 44
    Not yet
    Paid in
    £43k
    Pot value
    £75k
  • Age 49
    Not yet
    Paid in
    £52k
    Pot value
    £107k
  • Age 54
    Not yet
    Paid in
    £62k
    Pot value
    £147k
  • Age 59
    Not yet
    Paid in
    £72k
    Pot value
    £198k
  • Age 64
    Not yet
    Paid in
    £81k
    Pot value
    £263k
  • Age 66
    Not yet
    Paid in
    £85k
    Pot value
    £294k
  • Age 67
    Past £300k
    Paid in
    £87k
    Pot value
    £310k

On these average figures you’d pass £300k around age 66 — and it keeps compounding after that.

What a bit more each month does

+£50/mo
£396k
by 67 (£210/mo total)
Reaches £300k
+£100/mo
£482k
by 67 (£260/mo total)
Reaches £300k
+£200/mo
£654k
by 67 (£360/mo total)
Reaches £300k

Try it with your own numbers

Live

The real planner engine, running in your browser. Change your pot, monthly saving, growth and target and watch the pot you’d have by 67 — and the age you’d hit your target — update instantly.

On trackHits £300k at ~66

You'd reach £300k around age 66 and have about £310k by 67. Around 72% of that is investment growth.

Pot at 67
£310k
Hits target
Age 66
You put in
£87k
Growth adds
£223k

Projected pot (today's money)

Pot
Open the full plannerAssumes contributions to 67 and growth above inflation. Illustrative only — not financial advice.

Other pension targets at 24

What pension could I have at 24? →

A £300k pension at another age

Will I ever have a £300k pension? →

Where these figures come from

The default salary, contribution and existing-pot figures are UK national medians, not a prediction about you — your own pay, employer scheme, other pensions and returns will differ. Change any of them in the live tester above. Growth of 5% a year above inflation is illustrative, and all amounts are in today’s money. This is a planning tool, not financial advice.

Frequently asked questions

Will I have a £300k pension at 24?

Yes. Starting from the £4k an average saver your age already has, and paying in the auto-enrolment minimum of about £160 a month on the median £31k full-time salary for your age, you're on track for roughly £310k by 67 — you'd pass £300k around age 66. About 72% of that is investment growth, not money you save — you don't need a big income, you need time. The figures use national medians (not a promise about you): the ONS median full-time salary for ages 20–29 (£31k), the auto-enrolment minimum of about £160 a month (you + employer, 8% of qualifying earnings), the ONS median pot for someone your age who already saves (£4k), and 5% investment growth a year above inflation to age 67.

Do I need a high salary to get a £300k pension?

No. On the median £31k full-time salary for ages 20–29 (ONS), paying only the legal minimum, you'd build around £310k by 67, past £300k. The reason is compounding: about 72% of the pot is investment growth rather than money you pay in. Starting earlier matters far more than earning more, because your early contributions have the longest to grow.

How much do I need to save each month for a £300k pension?

On these assumptions the auto-enrolment minimum of about £160 a month already gets there by 67. Paying in a little more, or starting sooner, would reach £300k earlier or leave headroom.

Is a £300k pension enough to retire on?

It depends on your spending and other income. A £300k pot plus the State Pension (about £11,502 a year from 67) might support a modest-to-comfortable retirement using the 4% guide. Use the free planner to test how long £300k would actually last at your target spending.

Are these numbers financial advice?

No. This is an illustrative worked example from a free planning tool using fixed assumptions (average pay, 5% real growth, pension access from 55). Your own pensions, employer, returns and career will change the result. Open the planner to run it with your real figures.