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Average pension in Sheffield

It can seem impossible to know how much to save for your retirement. But knowing what the average pension pot in Sheffield looks like is a good start.

There’s no need to dig out the calculator. We’ve done the hard work for you and found that Sheffield residents usually:

  • Have an average pension of £112,338
  • Have a life expectancy of 81 years
  • Should expect a pension shortfall of £27,723

While it’s useful to know what the average pension pot looks like, it won’t help if you don’t know the kind of retirement lifestyle you want. Working with a financial advisor can help you decide on your goals and build a strong plan to ensure you achieve them.

We take the fuss out of searching for your perfect advisor. Hundreds of Sheffield locals have used our free service to connect with experts and enjoy free no-obligation consultations. In just 60 minutes, it could help you discover more ways to build the secure retirement you’ve always wanted.

Property market in Leeds

Think your pension pot is your only source of retirement income? Many people choose to increase their contributions, while others choose to wait to retire until they’re older. But if you’re a homeowner, you have more options than you might think. Equity release could help you unlock tax-free cash to improve your home or live more comfortably.

According to Statista, the average house price in Sheffield is £191,733, a 12% increase since 2020. With house prices and demand both rising, this could be the perfect time to speak to a financial advisor about equity release or downsizing.

A financial advisor can help you consider all possible options to finance your ideal retirement. If you’re concerned you’ll face a big pension shortfall, consider talking to your advisor about the value in your home.

Where do people in Sheffield retire to?



Fulwood is one of the pricier suburbs, located south west of the city centre. With excellent transport links and a mix of quiet suburban life and city buzz, it’s easy to see why it’s one of the most sought after places to live in Sheffield. Cosy local pubs and live music venues provide ample opportunities to fill your social calendar. While easy access to the Peak District also makes it ideal for camping, hiking and family fun. (1)-resized-1


If you prefer something a bit more lively, you can’t go wrong with Crookes. The suburb might be popular with students, but its warm community feel makes it popular with families too. You’ll find everything you need on its high street including supermarkets, indie shops, restaurants and pubs galore. And should you fancy a trip to the city, you’re only a short bus ride away.


Up-and-coming Walkley is gaining popularity as a more affordable alternative to pricey Fulwood. Charming Victorian terraces, indie cafes and shops make it a fine choice to retire in Sheffield. It also boasts expansive green space, with a huge recreation ground, plantations and paddling pools.

Why it's important to get pension advice now

Your pension pot has been growing for years. As you approach retirement, you may be wondering if it’s enough. But have you considered what ‘enough’ means to you? It could mean paying off the rest of your mortgage or planning a dream holiday.

A trusted financial advisor in Sheffield could help you answer this question and work towards a secure retirement. It all starts with a simple initial consultation - and it could make all the difference between feeling lost and finding direction.

So, if you’re ready to start your journey and discover how you can achieve the retirement you deserve, we can help. We work with expert pension advisors in Sheffield and can match you with the right one for your needs for free.

Meet your expert and find your own retirement path today by clicking the link below!

Click to Find a Financial Advisor in Sheffield

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.