Pension Calculator

The Pension Calculator gives you a clearer idea of how much your savings could be worth by the time you reach retirement. To get your forecast, use the sliders or live edit the fields with:

• Your current age
• The age you’d like to retire
• The monthly income you’d like in retirement, or the amount you’d like to retire with
• Your current pension pot
• Monthly contributions from you and your employer

You can also download your projection as a PDF and compare it against the Retirement Living Standards, which can help picture your life in retirement.

Understanding your forecast

The yellow line is your current projection. It shows how your pot could grow until you retire, and then how long it could last once you start drawing an income. The blue dotted line is your target. It shows the pot you’d need to pay your desired income until age 100, allowing for a long retirement.

You can also see the impact of:

• Taking 25% tax-free cash: your pot drops by a quarter (at age 55, or 57 from 2028) and grows from a smaller base after that.
• Including the full new State Pension: from State Pension age (67) it pays some or all of your income, so your pot needs to pay out less and could last longer.
• Investment growth rates of 3%, 5% or 8%: compare illustrations of low, average and high annual growth.

Assumptions behind your projection

The solid yellow line shows your current projection, which assumes investment growth of 5% every year. You can use the toggles below your projection to change the investment growth and choose from 3% (low), 5% (average) or 8% (high). We’ve assumed inflation of 2.5% per year and an annual management fee of 0.7% taken from your pension each year. We've also assumed that your monthly contributions rise in line with inflation, so that they keep the same value in today’s money. When using the personal monthly or one-off contribution sliders, your projection will include the 25% tax top up from HMRC.

If you include the State Pension, we’ve assumed you’ll get the full new State Pension of £12,547 a year (2026/27), which usually needs 35 qualifying years of National Insurance. Because all figures are in today’s money, we show it at today’s value, which assumes it rises in line with inflation. In practice it has often risen faster under the triple lock, but we don’t assume that. We’ve used a State Pension age of 67. Under current law it’s due to rise to 68 between 2044 and 2046 for people born on or after 6 April 1977, and this could change.