Illustrative · takes 2 minutes
The Pension Pot Forecaster
See how your pension could grow between now and retirement, then find out how that translates into everyday retirement life, measured against the UK’s official living-standard benchmarks.
Your details
Tell us where you’re starting from
38
67
5.0%
Cautious 2%Ambitious 8%
Projection
Your pot between now and retirement
Years to retirement
29
Projected pot at retirement
£287,322
In today’s money, after charges
Total you’ll have contributed
£219,000
Assumes 1.00% annual charges and 2.5% inflation, shown in today’s prices.
Reality check
How does that compare to everyday retirement life?
We’ve modelled buying an annuity with your projected pot, then worked out what that means after tax against the UK’s official living standards, and the pot size behind each one.
Tax-free cash
£71,830
Before buying the annuity, you’d normally take 25% of your pot as a tax-free lump sum. This is separate fromthe annual income shown below, and isn’t included in the comparison, since how it’s best used (topping up income, a one-off cost, or gifting) is different for everyone. This is exactly the kind of thing a full financial plan can help you decide.
Minimum: £13,900/yr net
Covers essentials, little left for extras
Needs ~£14,233/yr gross (incl. State Pension) · pot of ~£36,025
Moderate: £32,700/yr net
More financial security and flexibility
Needs ~£37,733/yr gross (incl. State Pension) · pot of ~£538,596
Comfortable: £45,400/yr net
More financial freedom, some luxuries
Needs ~£54,720/yr gross (incl. State Pension) · pot of ~£901,892
Buying a single life annuity with 3% escalation at age 67 could turn that into around £13,435/year, plus £12,548/year State Pension. After an estimated £2,683/year in Income Tax, that leaves a net income of around £23,300/year. That covers the Minimum standard, but there’s a meaningful gap to a more comfortable lifestyle, worth exploring what’s achievable with some adjustments.