How Much Should I Have in My Pension at 30? UK Guide

Find out how much you should have saved in your pension by age 30. Learn about savings benchmarks, contribution strategies, and ways to boost retirement funds.

If you are 30 years old, you might be wondering whether you are on track with your pension savings. While retirement may seem far away, starting early can significantly increase your retirement fund due to compound growth and tax relief.

So, how much should you have in your pension by 30? The answer depends on your salary, contributions, and retirement goals. This guide provides general savings targets, explains how pension growth works, and offers tips to boost your retirement savings.

How Much Should You Have Saved by 30?

A common rule of thumb is to aim for at least your annual salary in pension savings by the age of 30.

General Pension Targets by 30

  • Annual Salary £20,000 should have a recommended pension pot at 30 of £20,000

  • Annual Salary £30,000 should have a recommended pension pot at 30 of £30,000

  • Annual Salary £40,000 should have a recommended pension pot at 30 of £40,000

  • Annual Salary £50,000 should have a recommended pension pot at 30 of £50,000

This means if you earn £30,000 per year, you should ideally have at least £30,000 saved in your pension by 30.

However, if you have less than this amount, don’t worry, there’s still plenty of time to catch up.

How Are Pension Savings Calculated?

Your pension at 30 depends on:

  1. Contributions – How much you and your employer have paid in.

  2. Investment Growth – The return on your pension investments.

  3. Tax Relief – Government contributions that boost savings.

Example: Pension Growth by 30

If you started saving at age 22 and contributed 10% of a £30,000 salary (including employer contributions), your pension might look like this:

  • Total contributions: ~£3,000 per year.

  • Investment growth (5% per year): £30,000+ by age 30.

This assumes steady contributions and average returns, but real-world results may vary.

How Much Should You Be Contributing at 30?

A good rule is to save at least 15% of your salary, including employer contributions.

  • If you start saving at 25, you should save 12-15% of Salary to Save

  • If you start saving at 30, you should save 15% of Salary to Save

  • If you start saving at 35, you should save 20% of Salary to Save

  • If you start saving at 40, you should save 30% of Salary to Save

If you haven’t started yet, increasing your monthly contributions can help you catch up.

How Can You Increase Your Pension Savings at 30?

  1. Increase Contributions – Even an extra 1-2% per year makes a big difference.

  2. Maximise Employer Contributions – If your employer offers matching contributions, contribute enough to get the full match.

  3. Review Investment Performance – Higher-growth funds can increase returns over time.

  4. Use Tax Relief Benefits – Higher-rate taxpayers can claim extra pension tax relief via Self-Assessment.

What If You Have Less Than the Recommended Amount?

If you have less than your annual salary saved, don’t panic—there’s still time to catch up:

  • Increase contributions now to benefit from compound growth.

  • Use the "carry forward" rule if you have unused pension allowances from previous years.

  • Consider a SIPP (Self-Invested Personal Pension) for additional tax-efficient savings.

Final Thoughts

By age 30, aiming for at least your annual salary in your pension is a good benchmark. However, if you haven’t saved that much yet, increasing your contributions now can make a big difference in the long run.

The key to a comfortable retirement is starting early, contributing regularly, and maximising employer and tax benefits.

If you are unsure about how much to save, using a pension calculator or consulting a financial adviser can help create a personalised plan.