Pension calculator
Estimate how big your pension pot could be when you retire, and roughly what income it could provide.
Pension pot after 37 years
£530,518
That is worth £212,773 in today’s money.
- Starting pot£10,000
- Your contributions£119,468
- Employer contributions£71,681
- Investment growth£329,369
Taking 4% a year would give about £8,511 a year in today’s money, before the State Pension.
How the estimate works
Your contributions and your employer’s are a percentage of your salary, added monthly and grown at the rate you choose. Your salary rises each year by your pay rise assumption. The pot is also shown in today’s money, adjusted for inflation, which is a fairer way to judge it.
Tax relief and the 4% rule
Pension contributions get income tax relief, so a higher-rate taxpayer’s £100 costs about £60. Enter the full contribution percentage of your gross salary. The income figure uses the common 4% rule of thumb, taking 4% of the pot a year, and does not include the State Pension.
Common questions
How much should I put into a pension?
A common rule of thumb is to save half your age as a percentage of salary at the age you start, including employer contributions. Auto-enrolment minimum is 8% in total.
What growth rate should I use?
A diversified fund has historically returned around 4% to 6% a year before inflation, but returns are not guaranteed. Try a few rates to see the range.
When can I take my pension?
The minimum pension age is 55, rising to 57 in April 2028. The State Pension age is 67 for most people from 2028.