Pension Calculator

Note: In order to make sure you save enough for your retirement you should speak to a financial adviser.

HOW TO READ THESE RESULTS

The aim of this calculator is to give you an indication of how much you need to contribute to a pension and what you might get as a retirement income. The calculator should not be regarded as personal advice. If you are at all unsure, please contact a pension adviser for advice.

The figures are a guide and not guaranteed. Your final pension fund and the income available will depend on factors including the growth your fund achieves, contributions you make in future, charges, inflation, your retirement age, annuity rates at the time and the annuity options you choose.

Investment returns are not guaranteed and could be more or less than those used here. Past performance is not a guide to future returns. The value of investments can fall as well as rise, so you may get back less than you invest.

Pensions in payment are currently subject to income tax. The income shown will be subject to tax when it is drawn, other than the Tax Free Lump Sum, should you take one.

This calculator does not take account of tax charges which may apply to contributions exceeding the annual allowance or when your fund exceeds the lifetime allowance at retirement (currently £1,073,100)

This calculator is not suitable for calculating the potential income from a final salary scheme and any state pension benefits have been ignored but you may add on the full state pension by ticking the box where shown. This is no guarantee that you qualify for the full state pension.

ASSUMPTIONS USED

Note: All figures take account of inflation and show the buying power of your pension in today's money.

Regular contributions: are NOT assumed to increase in line with inflation, simple calculations are used to deposit all contributions in month 6 of each year.

Investment Growth, Inflation & fund charges: the calculator allows for annual investment growth of 2%, 5% or 8%. When calculating how regular contributions might increase, inflation and fund charge costs are assumed to be 3% if investment growth is 5%. For 2% growth, inflation is 1% and for 8% growth it is 5%. When converting the final fund value and income to today’s money, inflation is always assumed to be 2.5% per year. The default setting is 5% and can be changed in advanced options.

Annuity rates: used are based on Financial Conduct Authority rules for the calculation of a future annuity. However, if your retirement age is less than a year away, the annuity shown is calculated using current rates from a range of annuity providers. The annuities shown are assumed to be paid in advance. The income shown is 4.2% of the current value of the final pension fund to show the spending power of the future pension in todays money.

Your spouse: No account is taken of your marital status and how it might affect your circumstances.

Note: In order to make sure you save enough for your retirement you should speak to a financial adviser.

Advisers & Website owners: You can syndicate this pension calculator on your own website using the emded code here.

About Us

We are pension-advisers.co.uk, the independent & impartial website for anyone & everyone looking for pension advice.

We make it quick & easy to find the advice you need from the Best Pension Advisers in your area in a simple, transparent way.

The service we provide is free and unbiased, which means you won’t ever be charged for being matched with an adviser.

In less than a minute we will match you with a Pension Expert from our national network of Financial Advisers, saving you time and effort. All of the Advisers we work with are regulated by the Financial Conduct Authority.

We guarantee we'll work with you until you are 100% satisfied with the advice you receive. If at any time you aren't happy, come back to us and our experienced and friendly team will work tirelessly to get you the advice you need.