We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Pension calculator

Check if your retirement savings are on track

As a rule of thumb, most people will need a retirement income that's about two thirds (66%) of their salary.

The aim of this pension calculator is to give you an idea of how much you might need to save into a pension to get the income you’re aiming for in retirement. If you're not on track, you could explore different ways to make up for any shortfalls.

Get started

How to use the pension calculator

  1. Fill in your personal details below, and add your existing pension value
  2. Add the amount you and your employer contribute to your pension
  3. Add any tax-free cash you want to take out of your pension when you retire

What you'll find out

  • Your current estimated pension value, tax-free cash amount, and annual income. And what this would be if you increased your pension contributions, or delayed your retirement.
  • What impact the new State Pension could have to your retirement income.
  • How much you’re on track to receive when you retire.

Your details and contributions

plus minus
0% 25%
or plus minus
or plus minus

Based on your marketing preferences, we may use the details you entered in this calculator to send you relevant communications. If you want more information about how we handle your data, you can check out our Privacy Notice.

Give us a few details to see your results

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.
Enter your intended retirement age. If this is in the next year, a live annuity quote will give you a better idea of the income available.
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 (capped at £268,275), 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 (57 from 2028). 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.

Guidance and advice

Free guidance from Pension Wise

Pension Wise is a free, impartial government service for anyone aged 50 or over, with a UK based personal or workplace pension.

It can help you understand what type of pension you have, how you can access your savings and the potential tax implications of each option. But it isn’t financial advice.

Get advice on your pension

Financial advisers offer specialised knowledge in retirement planning, to help you navigate pension complexities.

They can give you recommendations on how to optimise your pension contributions and investments to make sure your retirement income goals are on track.

Learn more

Pension essentials

How much do I need to retire?

We take a look at three national income targets which could help you decide how much money you need to retire.

Read article

How much should I pay into my pension?

We explore what to consider when deciding how much to contribute, and why it pays to start early.

Read article

Eight ways to make the most of your pension

We reveal our eight top tips to help you boost your pension savings.

Read article