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Pension Projection Calculator

Disclaimer: The numbers provided in this calculator are in no way a prediction of future investment performance. The value of your investments can go up and down. Not financial advice!

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If you’re on mobile or tablet, you can see the notes on how to use this here
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Keep your pensions all in one place with this simple to use Pension service.

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Calculator Usage:

  1. Don’t use commas in your numbers!
  2. Complete the fields with your personal numbers.
  3. It is already assumed that your salary grows with inflation!
  4. If you don’t have a bonus you can leave those fields blank.
  5. If you’d like to sacrifice everything above the 40% threshold, check that box before clicking the Calculate button.
  6. Likewise, if you’re near or over the 60% tax-trap threshold (currently £100k) and would like to sacrifice everything above that amount then check that box.
  7. You can’t check both boxes.

Pension Options Pop-Up:

  1. Once your results table appears, each row is clickable and allows you to look further into what your pension income could look like after retiring.
  2.  After clicking a row, those numbers will be presented in a pop-up.
  3. If you choose to take the 25% tax-free lump sum, this will reduce the amount available for drawdown.
  4. If you don’t take the lump sum them 25% of your drawdown will be tax-free each year (providing you don’t hit the current limit of £268,275)
  5. The drawdown % is up to you but people far smarter than I have suggested that 4% is a sensible option.
  6. The annual drawdown amount you see is income from your private pension only (i.e. state pension would be claimed on top)

FAQs:

The numbers in the Growth columns assumes 3% inflation already so the numbers you see are at today’s value – the real amount in your pension when you get there is likely to be much higher.

Your salary also therefore assumes growth in line with 3% inflation!

You do not pay National Insurance on retirement income.

You will be taxed at normal income tax rates when you retire and are still entitled to the personal allowance (currently £12,570).

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