Income from pension

[Sarahk8888]

Does anyone know how much would need to be invested to achieve a pension income of £78000 please?

Do you mean an annual pension income of £78,000 per year? .... if so ive no idea but a hell of a lot!

That’s a broad question. Is this income for one person or a couple? Would you be receiving a state pension (or two) and if so how much? What retirement age? Income drawdown or purchase an annuity?

For income drawdown at 4% a year you’d need almost £2,000,000 but I suspect that answer is too simplistic!

Yearly income?

Last thing I saw/heard was a pot of £1million would give you about £30k per year, not including state pension. As that's all you can currently have, you would need substantial investments, savings and other income generating projects as well.

You can have a bigger pot than the lifetime allowance of £1,055,000 but you lose the tax benefit over that amount I think. It all gets quite complicated!

Or a lifetime of employment with employers offering a final salary scheme and a final salary around £130k