You've worked out what your pension will be so (taking into account the tax you will pay) live on that amount to see how you get on. I did this. (I didn't assume I would spend less when I retired - eg money saved on the daily commute is offset by having the heating on longer in the winter etc. Fewer work clothes needed but more subscriptions to organisations and more coffee and lunch with friends etc. ) The 'surplus' was saved, giving me an extra 'emergency fund' Think about calculating your expenditure not only on 58, 60 or 65 years of age but also on when you are 80 or 85, when you might need help in the house/garden or extra heating and you're less likely to be able to get or do part time work. 10 months on and it's working out OK for me so far. Good luck.