Enter how much money you'll need, a few details about your situation and include the State Pension if you'd like to.
You can increase your monthly contributions, change your retirement date or lower your monthly target to see the difference they could make.
Estimated pension income
Estimated pension pot
Tax-free cash
Target
Final salary pension
Personal pension
State pension (age 67)
Only available at State Pension age.
The Lifetime pension calculator provides you with estimated figures (gross) only and doesn’t take into account tax that you may have to pay on your pension income or any allowances that may apply. Please use this to provide you with a guide only.
The amount you actually receive will depend upon many factors such as future contributions, investment returns and the period over which your money is invested. There are a number of different methods of generating income from pensions in retirement and at Lifetime we recommend that you seek financial advice before making any decisions about how your pensions are accessed.
Having a financial plan in place will offer clarity in helping you to assess your retirement picture and help you understand where you are with your pension planning by giving you a track to run on, ensuring you have the best possible retirement outcome.
Pensions can be a complex subject, if you need any help in this area, please reach out to us.
If you select ‘Include State Pension’ we’ll assume that you’re entitled to the full basic State Pension from State Pension age. The state pension shown has been increased to reflect it being paid at a future date.
Your regular contributions will increase with inflation at a rate of 2.0% if you select ‘Increase with inflation’. Inflation is always assumed to be this amount.
The annual growth rates you can choose from follow Financial Conduct Authority rules.
These are:
The annual growth rates shown take into account the effects of future inflation to give you an idea of what your pension would be worth in real terms.
We've included an account fee of 0.4% per year and the average investment fund charge of 0.20% per year. We’ve deducted them from your estimated pension pot.
We’ve assumed that when you start taking money from your pension, you’ll take 25% as a tax-free lump sum. Your estimated pension income reflects this deduction.
Your estimated pension income is based on you withdrawing from the remaining pension pot at 4% per year. There are many different ways to access your pension once you reach the minimum retirement age, please get in touch if you need help with this.
