You want to have enough money to live the life you want in retirement
If you have set a target for your income in retirement and you have been keeping an eye on your pension statements or tracking your account online, then you should already have an idea of whether or not you can afford to retire.
If you have not set a target, you can use the target setting tool to get an idea of how much you will need to save for retirement.Set a target
Unless you are planning to buy an annuity to provide an income for the rest of your life, you will need to estimate how long you think your money will need to last for.
As a guide, if you were age 65 in 2013 and living in the UK, the Government estimates that you would live to age 86 if you were a man and to age 89 if you were a woman.
You can download the Mapping your road to retirement booklet, which will give you guidance to help you to work out if you are ready to retire.Download retirement booklet