Pension Starter Calculator

See how much your pension could grow and whether you’re on track for the retirement you want.

Calculate your pension

Estimated Pension Pot

£0

Estimated Monthly Income

£0

Tax-Free Cash

£0

Target Progress

0%

Are you lagging behind in your pension contributions. It is never too late to catch up. Follow these simple steps…

Your Pension Estimate

This pension calculator provides an estimate only and does not guarantee the amount you may receive in retirement.

All figures shown are before tax and do not take into account any annual or lifetime pension allowances set by HMRC.

The value of your pension pot and the income you could receive may be affected by several factors, including:

  • future pension contributions

  • investment performance

  • tax relief applied to contributions

  • inflation and interest rates at the time you retire

  • changes to tax laws and pension regulations introduced by HMRC or other governing bodies

How we worked this out

The following assumptions were made in our calculations.

Your estimated pension income

We’ve assumed that when you begin accessing your pension, you’ll withdraw 25% of your pot as a tax-free cash lump sum. Your estimated retirement income has been calculated after this amount has been taken.

Your projected pension income is also based on withdrawing 4% annually from the remaining pension balance.

If you choose the ‘Include State Pension’ option, we’ll assume you qualify for the full basic State Pension once you reach State Pension age.

If you select ‘Increase with inflation’, your regular pension contributions will rise by 2.0% each year to reflect inflation. This is the inflation rate used throughout the calculation.

The annual investment growth rates available are based on guidelines set by the Financial Conduct Authority.

The projected growth options are:

  • Low: 2% per year

  • Medium: 5% per year

  • High: 8% per year

We’ve assumed an annual platform fee of 0.15% along with an average investment fund charge of 0.20%. These costs have already been factored into your projected pension value.

The separate £4 monthly account fee has not been included in these calculations.

If you hold a Managed ISA or SIPP, an additional annual management charge of 0.30% will apply, although this fee has not been included in the estimate.