New Takes on Retirement Planning

At what age should you start actively planning for your retirement? 

The answer is now 36 years old, according to research undertaken by a major pension provider. By contrast, the starting age for today’s retirees averaged 49 years. Over half of that group now wishes that they had begun planning earlier.


There are some good arguments for why a retirement focus now begins in the mid-30s. National Statistics data show that the average age of buying a first home and getting married are now both around age 34, so at age 36, life should have gained a settled pattern for many. Nearly two thirds of respondents were confident in their abilities to make financial decisions by age 36.

Both today’s retirees and the 36-year-olds have experienced the new world of automatic enrolment into workplace pensions. When today’s 36-year-olds retire, those pensions will be a much greater proportion of retirement benefits than they are today. 

Apart from the longer timeframe, auto-enrolment will also become more significant because of new legislation which paves the way for:

  • an 8% minimum contribution level to cover all earnings (currently it’s up to a maximum of £50,270 and excludes the first £6,240); and
  • the auto-enrolment minimum age to drop from 22 to 18 years of age. 


The lower enrolment age of 18 matters because the sooner pension contributions begin, the better. A contribution made at age 18 will enjoy about half a century of investment returns before it starts to be drawn on. 

The truth is that whatever your age, your retirement planning should be a primary focus. 


For guidance on what to consider when planning for retirement, you can download our Guide to Retirement below:

Download our Guide to Retirement


Contact Us

To arrange an appointment to discuss how we can help you with your retirement planning, or other related matters, you can contact us via your usual MHA adviser, or directly on 01604 621 421, or email the team on


General risk warnings & other important information

This is a marketing communication, for general information only, and is not intended to be individual investment advice, a recommendation, tax, or legal advice. The views expressed in this article are those of MHA Caves Wealth or its staff and should not be considered as advice or a recommendation to buy, sell or hold a particular investment or product. In particular, the information provided will not address your personal circumstances, objectives, and attitude towards risk. Therefore, you are recommended to seek professional regulated advice before taking any action.

Key Risks: Capital at risk. Past performance is not a guide to future performance. The value of an investment and the income generated from it can go down as well as up, and is not guaranteed, therefore you may not get back the amount originally invested. Investment markets and conditions can change rapidly. Investments should always be considered long term.

This Information represents our understanding of current law and HM Revenue & Customs practice as at June 2023. Tax assumptions and reliefs depend upon an investor’s particular circumstances and may change if those circumstances or the law change.

Tax and Estate Planning Services (including Trusts) are not regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate tax advice. Tax treatment varies according to individual circumstances and is subject to change.

The value of your investment and the income from it can go down as well as up and you may not get back the full amount you invested. 

Past performance is not a reliable indicator of future performance. 

Investing in shares should be regarded as a long-term investment and should fit with your overall attitude to risk and financial circumstances.

Occupational pension schemes are regulated by The Pensions Regulator.