🎓 Vanguard UK: How to Become a Pension Millionaire
Vanguard's UK retirement team lays out the maths behind reaching a £1 million pension pot.
• A 25-year-old contributing under £100/month into a SIPP, and increasing contributions by 10% a year, could hit £1M after 40 years — assuming a 5% annual return after costs.
• Alternative: a flat £552/month (£6,623/year) gets a 25-year-old to £1M by 65.
• Government tax relief adds £20 for every £80 invested (more for higher-rate taxpayers) — but SIPP funds are locked until age 55 (rising to 57 in 2028).
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