Pension Projection Calculator

Use this tool to check

• What your pension might be worth when you retire
• How long your pot could last at the income you want
• How your contributions, your employer's and the State Pension add up

How the projection works

The calculator starts with your pension pot today and adds what you, your employer and any one-off payments put in until your chosen retirement age. It grows the total each year by the growth rate you pick. At retirement it can take 25% as tax-free cash, then works out how long the rest would last if you took your chosen income each year. If you switch it on, the full new State Pension is counted from your retirement age.

A worked example

Sarah is 45 and has £80,000 in her pensions. She pays in £300 a month, her employer adds £200, and she'd like to retire at 67 on £30,000 a year, including the State Pension.

• At 5% growth: about £348,800 left after taking £116,300 tax-free cash. Her pension would last until about age 86.
• At 4% growth: about £296,300 left after taking £98,800 tax-free cash, lasting until about age 83.

One percentage point of growth makes a difference of around £70,000 by the time Sarah retires. That's why it's worth trying a few growth rates rather than relying on one number, and why charges matter so much (see below).

How much do I need to retire?

It depends on the life you want. A good starting point is what you spend now, minus costs that stop when you retire, such as commuting, mortgage payments and pension contributions. A common rule of thumb is around two-thirds of your income before retirement, but your own budget is a far better guide.

The Retirement Living Standards from the Pensions and Lifetime Savings Association give a helpful picture of what a minimum, moderate and comfortable retirement costs in the UK. Remember that the full new State Pension is £12,547.60 a year (2026/27), so on its own it covers a basic lifestyle at best.

Ways to boost your pension pot

• Pay in a little more. An extra £50 a month for 22 years, growing at 5% a year, adds over £20,000 to your pot.
• Get your full employer contribution. Many employers match extra contributions up to a limit. If yours does, it's money you'd otherwise miss out on.
• Use your tax relief. For every £80 you pay into a personal pension, the government adds £20. Higher and additional-rate taxpayers can claim more back through their tax return.
• Keep charges low. In Sarah's example, paying 1% a year more in charges would cost her around £70,000 by retirement. Our SIPP comparison shows what different providers charge.
• Track down old pensions. The government's free Pension Tracing Service can help you find pensions from old jobs.
• Check your State Pension. Filling gaps in your National Insurance record can be one of the best-value ways to boost your income. Our State Pension Forecast page explains how.

Taking money out

From age 55 (57 from April 2028) you can usually take up to 25% of your pension tax-free, up to a limit of £268,275 for most people. The rest is taxed as income when you take it, alongside your State Pension and any other income. Taking a large amount in one tax year can push you into a higher tax band, so spreading withdrawals over several years often means paying less tax. See how the 25% tax-free lump sum works, and why your first withdrawal may be over-taxed.

Frequently asked questions