Pension Calculator: Estimate your pension pot at retirement

Is your pension on track so that you can afford to retire when you want?

When you know roughly what income you can expect from your pension pot in the long run, you can adjust your pension contributions (or take charge of your pension investments) to make sure you can afford to retire when you want.

Calculate your pension pot below – the tool gives you an estimated future value based on a few assumptions. Move the sliders to see how your pension pot at retirement could be affected. The chart below the tool also translates those estimates to “today's money” i.e. purchasing power after inflation is taken into account.

Hint: The “Increment” slider is for how much you intend to increase your monthly contributions by each year. Try adjusting this – it can have a significant effect on your results.

Pension Settings
Current Pension Pot
Your Monthly Contribution
Employer's Monthly Contribution
Your Age
Planned Retirement Age
Growth Rate
Inflation Rate
Management Fee


Based on the information you have given us we estimate that your total Pension Pot will be:


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This calculator is for general illustrative purposes only and results may not represent an accurate future value upon which to base your financial plans. We recommend you speak to a financial adviser to make a plan tailored to your circumstances.

Compare the costs of a SIPP

Thinking of investing your own pension? Whether you're starting a new SIPP, or transferring other pension pots so that you can manage them better, one of your first decisions will be which investment platform to choose.

Compare the costs of different SIPP platforms with this interactive comparison tool

Important information about this pension calculator

This tool aims to chart the potential growth of your pension over time and give you a rough idea of the size of pension pot you can expect when you reach retirement – and, in turn, the income you could subsequently expect to draw or purchase using your pension pot.

Because the final size of your pension pot will depend on many interrelated factors, including (i) the performance of your investments, (ii) the charges you pay, (iii) the rate of inflation and (iv) whether tax rules change, it's not possible to forecast the exact size of your pension pot – particularly if retirement is still some way in the future. Likewise, annuity income rates are likely to change over time, so the size of pension pot you need in order to secure the income you want will also fluctuate.

That said, estimating the likely size of your pension pot upon retirement can give you a good idea of whether it is likely to meet your expectations. If it helps to to estimate how much you need to save, it can prove a useful planning tool.

Final salary pension schemes

This calculator is designed to help you estimate how much your defined contribution scheme will be worth. It is not suitable for final salary schemes. You should contact your scheme administrator directly if you want to find out what the retirement benefits are from one of those schemes.

Taxation and pension legislation

The information provided by the calculator is based on current legislation, which is subject to change at any time. The calculator does not take account of tax relief, annual contribution limits or the lifetime allowance charge.

Tax relief and the annual allowance

You will only receive tax relief on contributions up to 100% of your relevant earnings. Non-earners can receive tax relief on gross contributions up to a maximum of £3,600 gross per tax year.

There is also an annual allowance, which is the maximum amount that can be paid in to all your pension schemes without incurring a tax charge. In the 2016/17 tax year the allowance is £40,000. If you exceed the annual allowance the tax charge is claimed via self assessment. The annual allowance includes all contributions: your personal contributions, tax relief, employer contributions and contributions paid by a third party. It also includes payments made to final salary pensions.

Lifetime allowance

There is a maximum limit that you can accumulate in all your pension funds combined (both work-based schemes and personal plans) without being subject to a tax charge. The value of your pension funds is measured when you take benefits, reach the age of 75, or die and a lump sum is paid in respect of your benefits. The lifetime allowance is currently £1 million, having been reduced from £1.25 million in April 2016. Any amount in your pension pot above this allowance is subject to a tax charge. If the excess is taken as a lump sum it is taxed at 55%. If the excess is retained to pay pension income it is subject to an additional tax charge of 25% on top of the income tax already paid.

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