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Pension calculator

How much might your pension pay? Is it on track? Find out in seconds with this free pension calculator.

Your details and contributions

plus minus
0%25%
plus minus Gross contribution per month
plus minus Gross contribution per month

All figures take account of inflation and show the buying power of your pension in today's money. Please see how to read these results below. If you have any questions, call our Pensions Helpdesk on 0117 980 9926 or email us. Unsure about your pension allowance? Find out how much you can contribute.

How to read these resultsAssumptions used

How to read these results

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 us for advice.

The figures are a guide and not guaranteed. Your final pension fund and the income available will depend on factors including the growth your fund achieves, contributions you make in future, charges, inflation, your retirement age, annuity rates at the time and the annuity options 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, so you may get back less than you invest.

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 our annual allowance and lifetime allowance page.

This calculator is not suitable for calculating the potential income from a final salary scheme and any state pension benefits have been ignored.

Retiring soon?

Get a live annuity quote now - it'll give you a much better idea of how much income you could receive. If you're considering income drawdown, our online drawdown calculator shows you what income you could take.

Assumptions used

Regular contributions are assumed to increase in line with inflation and to be paid monthly in advance.

Inflation the calculator allows for annual investment growth of 2%, 5% or 8%. When calculating how regular contributions might increase, inflation is assumed to be 2.5% if investment growth is 5%. For 2% growth, inflation is 0.5% and for 8% growth it is 4.5%. When converting the final fund value and income to today’s money, inflation is always assumed to be 2.5% per year. These assumptions are set down by the Financial Conduct Authority for pension projections. The default setting is 5% and can be changed in advanced options.

Annuity rates used are based on Financial Conduct Authority rules for the calculation of a future annuity. However, if your retirement age is less than a year away, the annuity shown is calculated using current rates from a range of annuity providers. The annuities shown are assumed to be paid in advance.

Your spouse If you are male, your spouse is assumed to be female and 3 years younger than you. If you are female, your spouse is assumed to be male and 3 years older than you. These assumptions are based on industry standards and may not reflect your own circumstances, particularly if you are in a civil partnership.

If you choose to view the results in real terms, your final fund value, potential income and target income will be discounted to show their buying power in today’s money.
This is your gross salary (before any tax, national insurance or other deductions).
This is the current value of any pension savings you have already built up.
This should be the annual pension income you would like to receive when you retire. We will revalue this in line with inflation so its buying power is maintained.
This is the age at which you plan to take an income from your pension, not necessarily the age at which you will stop working.
At retirement, you can normally take up to 25% of your pension as a tax free cash lump sum, although selecting this will reduce the amount available to provide you with an income throughout your retirement.
Please use the +/- buttons to select the percentage or value of your salary YOU contribute to your pension(s). You can change this value to view the effect this has on your pension income.
Please use the +/- buttons to select the percentage or value of your salary YOUR EMPLOYER will contribute to your pension(s).
This lets you choose the intervals at which your retirement income would be paid.
This lets you choose the intervals at which your retirement income would be paid.
This allows you to choose a period for which income is guaranteed to be paid even if you die within that time.
You can change this to choose a pension which rises each year. This will give you a lower income at first, but it will increase each year in retirement.
This can be changed to reflect how much of the retirement income you would like to continue being paid to your spouse/dependant upon your death.
These options reflect the way in which you expect to take your annuity income from your pension when you retire. Changing these options will not affect your pension fund value, but will change the annual income your receive from it.
You can change this to match the charges of your current pension(s). Selecting different levels will allow you to see the impact of higher/lower charges upon your fund.
Use this to change the amount you expect your pension fund to grow each year before you retire.
The rules mentioned are those currently applying and could change in the future. You can normally only access the money from age 55. Tax reliefs depend on your circumstances. This website is not personal advice, if you are unsure an investment is right for you, please seek advice.


Hargreaves Lansdown is authorised and regulated by the Financial Conduct Authority.

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