Pension calculator

Estimate how big your pension pot could be when you retire, what it is worth in today's money, and the yearly income it might give you.

How your pension grows

Each month your contributions, your employer's contributions and tax relief go into your pot, and the whole pot is invested. Growth is added on top of growth, so money paid in early has the longest time to grow.

Example

A 35-year-old with £20,000 already saved, paying in £300 a month with £150 from their employer, could have about £511,149 at 67 if investments grow by 5% a year. That is £192,800 paid in and £318,349 of growth. With 2.5% inflation, the pot would be worth about £231,944 in today's money.

UK pension basics for 2026/27

Tax relief: money you pay into a pension gets tax relief at your highest rate of income tax.
Workplace pensions: under auto-enrolment, at least 8% of qualifying earnings must go in, with at least 3% from your employer.
Annual allowance: most people can pay in up to £60,000 a year, or 100% of their earnings if lower, with tax relief.
Taking money out: you can usually take 25% of your pot tax-free once you reach the minimum pension age.
State Pension: this is on top of any private pension. The State Pension age is rising from 66 to 67 between 2026 and 2028.

Frequently asked questions

What is the 4% figure?

It is a rule of thumb: taking about 4% of your pot each year has historically given a reasonable chance of the money lasting around 30 years. It is not a guarantee, and an annuity or a different drawdown rate may suit you better.

What growth rate should I use?

No one knows future returns. Many pension providers use somewhere between 2% and 8% a year to show different scenarios. Try a few rates to see the range.

Why show today's money?

Prices rise over time, so £1 in 30 years will buy less than £1 today. Today's money shows what your future pot would buy at current prices.

For illustration only. Investments can go down as well as up, and charges reduce growth. For advice about your situation, speak to a regulated financial adviser or use the free guidance from MoneyHelper and Pension Wise.