Pension Calculator
Estimate how much money you might get from your pension when you retire. This calculator helps you understand your potential retirement income based on your current pension savings and contributions.
Your Pension Summary
Estimated pension pot at retirement:
£0
Estimated monthly income (annuity):
£0
Estimated annual income:
£0
| Years until retirement | 0 |
|---|---|
| Total contributions | £0 |
| Total employer contributions | £0 |
| Investment growth | £0 |
| Estimated pot in today's money | £0 |
About Pension Calculator
This pension calculator helps you estimate how much money you might have in your pension pot when you retire and what income this might give you. The calculations are based on your current pension savings, your contributions, and assumptions about investment growth and inflation.
How Pension Calculations Work
The calculator works by projecting your pension savings forward to your retirement age, taking into account:
- Your current pension savings
- Your regular contributions (both yours and your employer's)
- Expected investment growth on your pension savings
- The effects of inflation over time
Understanding the Results
The results show:
- Estimated pension pot at retirement: The total value of your pension savings when you retire
- Estimated monthly income: How much you might get each month if you use your pot to buy an annuity
- Estimated annual income: The yearly equivalent of your monthly income
- Estimated pot in today's money: What your future pension pot would be worth in today's terms after accounting for inflation
Limitations of the Calculator
This calculator provides estimates only. Actual results may vary due to:
- Changes in investment performance
- Changes in contribution amounts
- Changes in retirement age
- Changes in annuity rates
- Tax and pension rule changes
Pension Planning Tips
To improve your retirement income:
- Start saving as early as possible - even small amounts add up over time
- Increase your contributions whenever you can, especially when you get a pay rise
- Take full advantage of employer contributions
- Review your pension investments regularly
- Consider getting professional financial advice