What does the tool do?
- It estimates how much your pension plan(s) could be worth when you retire.
- It shows how you could use your pension plan(s) and state pension to fund your retirement.
- It demonstrates ways to take a retirement income using an annuity or income drawdown.
- It gives more accurate estimates by including basic medical questions.
- It allows you to alter information, such as pension contribution levels, to see how this could affect your retirement income pot.
What information do I need to include?
- Some personal details
- The value of your pension pot(s)
- How much you and your employer contribute to your plans
- The level of income you think you may need in retirement
- Your target retirement age/when you want to start taking an income
What do I need to consider?
This tool is designed to reflect your possible retirement income based on the information you’ve provided.
It gives you an illustrative example only. It isn't intended to provide personalised advice or give a personal recommendation.
Before making decisions we strongly recommend talking to a financial adviser. You can find one in your area using www.unbiased.co.uk. You can also get free guidance from the Government’s Pension Wise website