Abstract: A subsea actuation system with a, at least partly, retrievable position indicator is disclosed. The subsea actuation system being connectable to a subsea structure with a valve with a rising valve stem, the rising valve stem comprising a rotation-to-linear mechanism for operating the valve, the subsea actuation system comprising an interface for receiving rotational input from a separate retrievable actuator. The interface comprises a cylindrical bucket comprising an opening in an axial direction of the cylindrical bucket, and a shaft for receiving the rotational input from the retrievable actuator, the shaft being connected to the rotation-to-linear mechanism. The position indicator is configured for indicating an amount of rotational movement of the shaft and hence a position of the valve, and at least a part of the position indicator is configured to be positionable at, and retrievable from, the interface.