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Pension growth calculator UK

What could your pension pot be worth?

Project your pension growth, compare contributions and explore different assumptions. See what your savings could buy in today's money.

An older couple laughing together on a garden bench

How it works

Your pension today

Editable example: £40,000 salary, £20,000 pension pot and retirement at 67. Change these figures to your own.

Include the defined contribution pension savings you want to project.

Used only for contributions entered as a percentage of full salary.

How it works

What goes into your pension

Enter the total credited to the pension, including any tax relief added by the provider. This is not necessarily the deduction on your payslip.
Percentages apply to your full salary. If your scheme uses qualifying earnings or a different pay basis, use the actual monthly amounts from your pension statement. We do not calculate tax relief or statutory contribution limits.

Annual amounts are spread equally across 12 month-end payments. Fixed amounts stay unchanged in future years; percentage contributions follow your assumed salary.

How it works

When you want to retire

Time remaining is rounded up to the next month.

Growth assumptions — review or edit

Defaults: 3%, 5% and 7% growth before charges; 0.75% annual charges; 2.5% inflation. These are illustrative scenarios, not probabilities or guaranteed bounds. Actual returns can be outside this range.

Use your total annual percentage charge. Fixed cash fees are not modelled.

Used to express future money in today's purchasing power.

Used for percentage contributions only.

Stops future rises. A cap below your current salary never reduces your starting salary.

How it works

What difference could paying more make?

An additional fixed amount credited each month, including any provider tax relief. It is not an estimate of the cost to your take-home pay.

Sources and methodology

What these projections are based on

The default 5% growth, 0.75% annual charge, 2.5% inflation and 2.5% salary growth match the assumptions described in the Money and Pensions Service calculator methodology. Our pension-pot calculation is a separate model.

The 3% and 7% alternatives are Workmax sensitivity scenarios around that default, not historical percentiles, probability limits or FRC-prescribed scenarios. The FRC's published pension-fund research provides market context; its volatility-group rates do not identify your fund's likely return.

We apply growth and percentage charges monthly using equivalent annual rates, then add contributions at month end. Salary rises annually until the chosen age or cap. Fixed contributions are not increased automatically. Each payment and the final pot are adjusted for inflation.

This is a defined contribution pension illustration. It does not model individual funds, changing investments near retirement, market volatility, tax relief, contribution limits, State Pension, defined benefit pensions or withdrawal tax. Use gross amounts actually credited to your pension. For guidance only, not financial advice.

Reviewed . Next methodology review due: , or earlier if the reference assumptions change.

Assumptions, inputs and methodology

Pension Growth Calculator — FAQ

Understand the assumptions, contributions and limits behind your pension growth projection.

What does this calculator estimate?

It projects your private pension from your current pot and contributions, after assumed investment growth, inflation and annual charges. The pot, illustrative 4% income and 2026 Retirement Living Standards benchmark are all shown in today's money.

Which retirement income targets are used?

We use the 2026 UK Retirement Living Standards. Single: Minimum £13,900; Comfortable £45,400. Two-person household: Minimum £22,500; Comfortable £62,700. These benchmarks exclude housing costs such as rent or mortgage payments, so adjust them for your circumstances.

How do contributions work?

Enter a percentage of full salary or the actual monthly or annual amount credited to your pension, including provider tax relief where applicable. Annual amounts are spread across monthly payments. For qualifying-earnings schemes, use actual amounts. Fixed amounts stay constant; percentage contributions follow the salary assumption.

How is salary growth handled?

Salary growth defaults to 2.5% a year and is editable. Growth stops at your selected age or cap. A cap below your current salary never reduces the starting salary.

What investment growth do you assume?

The default base growth is 5% before 0.75% annual charges, using the published Money and Pensions Service assumptions. Lower 3% and higher 7% rates are illustrative sensitivity scenarios, not probabilities or guaranteed bounds. All rates are editable. Contributions arrive at month end.

What is the 4% rule used here?

The optional income section illustrates a 4% annual withdrawal from your projected pot. It is not a guarantee or an assessment of sustainable income. Tax, State Pension and other income are excluded.

Do you account for fees, taxes, inflation or state pension?

Inflation defaults to 2.5% and percentage charges to 0.75%, both editable. We show today's purchasing power and the base pot in future pounds. Tax relief is not added automatically: enter gross contributions credited to the pension. State Pension, withdrawal tax, individual fund performance and investment volatility are excluded.

How are years to retirement calculated?

Age mode projects to your target birthday, rounding up to a whole month. Year mode projects to the same month in the selected year. Targets must be in the future and no more than 100 years away.

Is this financial advice?

For guidance and educational purposes only. Consider seeking regulated financial advice for decisions.