Average pension in Birmingham

Getting yourself set up for retirement? It can be difficult to judge just how far your pension can take you.

We’ve done our research and found that, on average, people in Birmingham:

  • Have an average pension of £125,000
  • Have a life expectancy of 79 years
  • Should expect a pension shortfall of £12,617

Many people see their pension fund as a safety net to fall back on in retirement but that doesn’t mean their safety net is limitless. Even with a large pension pot, you could be looking at a significant shortfall when you compare it to how you want to spend your retirement. And isn’t retirement about you having the time to finally do what you want to do, on your own terms?

Every year, hundreds of people trust us to put them in touch with a financial advisor in Birmingham who can help them plan their retirement. By speaking with a trusted expert, you can get professional pension advice to maximise your retirement income based on your circumstances.

Property market in Birmingham

Your pension isn’t the only asset you have to utilise when planning your future. Downsizing to another part of the city (or country, for that matter) is a favourite on the retirement to-do list. There are many flexible options available that mean you may not have to compromise to get your dream retirement home, including equity release.

The average home in the West Midlands costs £231,000 and increased in value roughly 15% compared to 2020. That could mean the difference between scaling down your retirement and living it to the fullest.

You have a lot to consider when you speak with your financial advisor, but don’t forget how the equity in your home could support you.

Where do people in Birmingham retire to?

Sutton Coldfield-1

Sutton Coldfield

Sutton Coldfield is one of the most popular areas of Birmingham regardless of how old you are. Sitting just a few miles outside the city centre, the town boasts a 2,400-acre nature reserve so you can explore woodlands and lakes to your heart’s content. There’s a lively shopping district and the Restaurant Quarter is home to independent eateries of all nationalities from Italian to Bangladeshi. Practically everything you could want is right on your doorstep!

Financial advice in Bournville, Birmingham


Historic Bournville holds a piece of every Brit’s heart, even if they don’t know it, thanks to it being home to the Cadbury factory and Cadbury World. But there’s more than Creme Eggs to enjoy should you settle down there: green spaces aplenty and breathtaking architecture to boot. The Bournville Village Trust homes truly create the feeling that things have been frozen in time back during the good ol’ days.
Financial advice in Erdington, Birmingham


Birmingham property experts agree that Erdington is one of the best places to live. The area scored highly in research from four different property companies which commended Erdington for its large number of local businesses, healthy property market growth, “rich past dating back to the 9th century.” It’s also ideal if you’re looking to downsize - Erdington is a great local area you can move to without breaking the bank.

Why getting pension advice now is essential

Many people are so consumed with working towards and saving for retirement, they aren’t sure what to do once they finally get there. It’s understandable - retiring is the next big step you’ll take in life and that can be daunting.

Speaking with a financial planner is the first step. You can book a free consultation with one to chat about your retirement goals and what assets you have available to support you. Some people want to travel the world while others want to give their loved ones a helping hand - whatever you want to do, a financial planner can help set you up for long-term success.

Let a financial advisor take care of the research and the calculations. Just tell them what you want to do, when you want to do it, and what funds you have available. Your advisor can explore your options and create a plan tailored to your needs. It all starts with just one click.

Click to Find a Financial Advisor in Birmingham

Frequently asked questions

Do I Need a financial advisor Do I need a financial advisor

Do I need a financial advisor?

A financial advisor can offer valuable insight and expertise on a wide range of common financial concerns.

Key situations in which a financial advisor is likely to be valuable include:

  • Exploring your options during key life events such as retirement

  • Comparing quotes for pensions or insurance products

  • Investing large sums of money

  • Inheritance tax planning and intelligent saving

How much does an advisor cost How much does an advisor cost

How much does an advisor cost?

The cost of using a financial advisor can vary depending on your needs. You may be able to resolve your issues in a single consultation, or you may benefit from a more long-term collaboration.

At Local Financial Advice we're dedicated to providing a transparent and cost-effective experience for all customers:

  • Free, no-obligation initial consultation - Discuss your issues in detail and make a decision about whether you’d like to proceed before making any commitment.

  • Total transparency - Any costs associated with purchasing any product or service from your financial advisor will be broken down in detail.

How can I speak with my advisor? How can I speak with my advisor?

How can I speak with my advisor?

Many of the advisors we work with are flexible with how they can meet with you.

  • Your advisor will often try to first get in touch with you by phone to talk about the kind of advice you need.

  • If you decide to continue with their advice, advisors can meet you face-to-face. You can discuss any safety precautions the advisor should take if you arrange for them to visit your home.

  • Throughout your time speaking with your advisor, you may receive emails from them. These will often simply be to confirm your information or the details of future meetings you book with them.

Our Service Our Service

Is the advice one-off or ongoing?

The type of advice you need depends on your circumstances.

  • We encourage everyone we connect with an advisor to discuss their financial needs in detail so they can receive the right amount of advice.

  • You may only need one-off advice if you need help choosing a long-term product to support your retirement, such as an annuity.

  • If you need flexibility with your money, you may prefer ongoing advice from your advisor with you speaking every six months or year to see how your money is performing.

  • Whatever help you need, your advisor will clearly lay out the costs involved. These can be one-off costs or recurring, such as a fund management fee.