Retirement Calculator

An easy way to plan for your future

With just a little more information, you will be able to play around with your options. If you are not sure of your figures, simply use an estimate for now.

How to use the modeller

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Notes

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 an independent financial advisor.

The figures are a guide and not guaranteed. Your final pension fund and the income available will depend on factors including the investment return that your fund achieves, contributions you make in the future, charges, inflation, how much your salary increases, your retirement age, the cost of buying a pension at retirement and the type of pension 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.

Pensions in payment are currently subject to income tax. 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. For information on the limits and allowances which apply to pensions please see http://www.hmrc.gov.uk/tools/pension-allowance/index.htm. This modeller is based on the current taxation treatment of benefits from pension schemes. The Government could change these in the future.

This calculator is not suitable for calculating the potential income from a final salary scheme (also known as a defined benefit scheme) and any state pension benefits have been ignored.

Results shown are in today’s prices assuming that future inflation averages at 3% each year.