UK pension calculator
Estimate what your pension could be worth when you retire, from what you have saved, what you and your employer pay in, and how long you have. This is a rough guide, not a forecast.
Your pension pot
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Wondering what you can afford to pay in? Try the take-home pay calculator.
How this pension calculator works
It starts with the pot you have now. Each month it adds what you and your employer pay in, and applies the yearly growth rate you choose, all the way to your retirement age. It then shows the pot in today's money by taking off inflation, because £400,000 in 37 years will buy much less than £400,000 today.
Income from your pot
The calculator shows a possible yearly income using the 4% rule of thumb: taking 4% of the pot a year has often been used as a guide to a sustainable income. It is a rough guide only, not a promise. Your actual income depends on investment returns, how you take the money, and whether you buy an annuity, which pays a guaranteed income for life.
The State Pension
The full new State Pension is £241.30 a week in 2026/27, which is about £12,548 a year. You need 35 qualifying years of National Insurance for the full amount, and at least 10 to get anything. See GOV.UK: New State Pension and check your forecast at GOV.UK: Check your State Pension.
Tax relief and your employer
Pension contributions get tax relief, so the government adds to what you pay in. Many workplace schemes also include an employer contribution, which is extra pay you miss out on if you do not take part. Under automatic enrolment, the minimum total is 8% of qualifying earnings, with at least 3% from your employer. See GOV.UK: Workplace pensions.
Taking money out
You can usually take up to 25% of your pot tax-free, within limits, from age 55, rising to 57 in 2028. The rest is taxed as income. See MoneyHelper: Pensions and retirement.
What this calculator assumes
- Your contributions stay the same each month. In practice they often rise with your pay, which would give a bigger pot.
- The growth rate is steady, after charges. Real investments go up and down.
- Inflation is a single yearly rate. The pot in today's money is the future pot divided by the total inflation.
- The income figure is 4% of the pot and is before tax.
- It does not include the State Pension in the pot, only shows it for comparison.
Questions people ask
How much should I have in my pension by 30?
There is no single answer. A common rule of thumb is to aim to save around half your age as a percentage of salary, but what you need depends on the retirement you want. MoneyHelper has a pension calculator and guidance.
How much do I need to retire?
It depends on the income you want. The Pensions UK retirement living standards give example budgets for minimum, moderate and comfortable retirements. Compare them with the income shown here and your State Pension.
Is the growth rate realistic?
5% a year after charges is a fairly cautious figure for a mixed fund over a long period, but it is not guaranteed. Try lower figures such as 3%, and higher ones, to see the range.
Does this include my State Pension?
No. The pot shown is private and workplace pensions only. The full new State Pension of about £12,548 a year is shown separately so you can compare.
Is what I type stored or shared?
No. The calculation runs in your browser and nothing you enter is sent to us. Our privacy page has the details.
Is this financial advice?
No. It gives a rough estimate for information only. For advice about your pension, speak to a regulated adviser or use the free MoneyHelper and Pension Wise services.