Can I Retire at 60?

Can I Actually Access My Pension at 60?

Yes, under current UK legislation most people can access their defined contribution pension pots from age 55 (rising to 57 from April 2028). So at 60, you’re already well past the minimum access age.

This means you can draw from your private pensions, use tax-free lump sums, or start taking regular withdrawals. But just because you can access your pension, doesn’t always mean you should – at least not all of it at once.

Retiring at 60 means your money still needs to last a good while – possibly 25+ years – so it’s important to make sure your plan is built to go the distance.

What Does Retiring at 60 Really Mean?

Retiring at 60 doesn’t have to mean never earning again.

For some people, it’s about moving away from full-time work and doing something more flexible or enjoyable – whether that’s freelancing, part-time work, or simply having a bit more breathing room in your week.

Others may stop working altogether and focus on hobbies, travel, or time with family.

The key here is choice. Retiring at 60 can give you more time freedom – but you’ll need to make sure your money can support that lifestyle for the long haul.

What Kind of Lifestyle Do You Want?

Everyone’s idea of retirement is different.

For some, it’s about simple pleasures: walks on the beach, family Sunday dinners, maybe the odd caravan trip.

For others, it might mean ticking off that travel bucket list, helping their children onto the property ladder, or pursuing long-held hobbies.

Whatever your version looks like, your retirement lifestyle plays a huge part in whether retiring at 60 is affordable.

That’s why, at Joslin Rhodes, we always start with lifestyle planning before we ever talk about pension values.

It’s not just about how much you’ve saved – it’s about what that money needs to do for you.

How Long Does Your Pension Need to Last?

If you retire at 60 and live to 85, that’s 25 years of retirement to fund.

The average annual spend for a comfortable retirement is currently around £43,900 for an individual, or £60,600 for a couple (source: Pensions and Lifetime Savings Association).

So, if you plan to spend £43,900 a year from age 60 to 85, you’d need at least £1,097,500 to cover that period – and that doesn’t factor in inflation, unexpected expenses, or potential care costs later down the line.

But don’t panic – your income in retirement might not just come from your pension pot.

You might also have:

• Savings or ISAs
• Property or rental income
• Other pension types (e.g. defined benefit schemes)
• Inheritance
• Part-time work or consultancy income

What About the State Pension?

At 60, you won’t yet be eligible for the State Pension – that currently kicks in around age 66–67, depending on your birth year.

This means, for the first 6-7 years of retirement, you’ll likely be relying entirely on your own financial resources.

The good news? When it does kick in, your State Pension can give your retirement income a nice boost – helping your other assets last longer.

But it’s still best to plan your retirement based on your own pot, and treat the State Pension as a helpful top-up.

So, Can You Retire at 60?

The real question isn’t “can I retire at 60?” – it’s “can I afford the lifestyle I want if I retire at 60?”

Here at Joslin Rhodes, we believe in real advice, for real people.

That means starting with your hopes, your dreams, and your lifestyle – then working backwards to see what that looks like financially.

Our friendly advisers will take you through our PlanHappy Lifestyle Financial Planning process, which looks at:

• What you really want from retirement
• What you’ve got to work with (pensions, savings, other income)
• Whether it’s enough to do what you want — and if not, what you can do about it

And the best bit?

Your first meeting is completely free – no pressure, no jargon, just a proper conversation to see where you stand.

Final Thoughts

Retiring at 60 isn’t a far-off dream – it’s a genuine option for many people.

But it takes planning, and a proper understanding of your finances.

So, if you’re starting to think about early retirement, don’t sit there worrying or guessing.

Let’s have a chat, explore what’s possible, and create a plan that fits your life – one that helps your money last, and your retirement feel exactly how you want it to.

Tap here to contact our team today.