Pension calculator

See what your pension could be worth

Our retirement calculator only takes a few minutes. It can tell you:

  • The pension pot you could have when you reach retirement age
  • The effect of choosing a regular income with an annuity or taking pension drawdown
  • The tax-free lump sum you could take from age 55 (57 from 2028)

About our pension calculator

If you’re planning for the future, you can use our pension calculator to see what you could be working with in retirement. Just pop in details of your pensions and we'll rustle up the numbers.

It’s an estimate as it makes assumptions for things like growth rates, investment fees, and length of investing. Your actual pension income could be different.

It isn’t intended as a recommendation or personalised advice. Before making changes to your pension, we recommend you talk to a financial adviser. Or visit our financial advice webpage.

Any tax benefits used in the calculator are subject to change and depend on individual circumstances.

What you’ll need

Alongside a few personal details you’ll need to tell us:

  • The current value of your pension(s)
  • How much you (and your employer if you're employed) pay into them
  • When you plan to retire, or start taking money from your pension(s)

The calculator uses the Personal Allowance and tax bands for England and Northern Ireland from 6 April 2024 to 5 April 2025. Scottish and Welsh income tax thresholds may differ.

How it works

Get your results in minutes.

Provide basic details about yourself

We’ll use your age to estimate when you will retire and how many years of income you could need.

Add your pension information

We’ll use your salary, values from various pension types and monthly contributions to estimate the future value of your pension pot.

Discover your income options

View your estimated pension value at retirement and see the options for managing your income.

What you’ll find out

You’ll see the difference to your pension if you were to choose a pension drawdown, a guaranteed income (annuity), or take it all as one cash lump sum.

Remember up to 25% of your pension pot may be available tax-free. Benefits can be taken from age 55 (57 from April 2028) unless you have a protected pension age.

Step 1 of 3

Pension drawdown

Take money directly from your pension to suit your needs and keep the rest invested. While invested, its value can go up and down.

Step 2 of 3

Annuity

This will pay you a regular guaranteed income for the rest of your life. Once bought, the annuity usually can’t be changed.

Step 3 of 3

Cash

If you’d prefer everything in one go when you retire, you can take your entire pension as a lump sum. This will have tax implications and will need to last your whole retirement.

Try our pension calculator

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Pension Wise

Pension Wise from MoneyHelper is a free, impartial, government-backed guidance service. If you're 50 or over and you want to understand your retirement options, make it your first port of call.

Visit the MoneyHelper website or call 0800 138 3944 for details.

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Pension articles

Take a look at our library of helpful articles and guides.

Taking part of your pension

There are a few different ways to take your money as you approach retirement. See your options on withdrawing part of your pension money.

What’s the difference between financial guidance and advice?

Financial guidance or advice can be a huge help when it comes to money matters. See how our experts can help you plan your retirement.

Taking all your pension in cash

See the impact of withdrawing your pension money as one lump sum – and what you can do instead.

Leave your money where it is for now

Not touching your money right away could make a difference to the size of your pension pot.

Mix and match your retirement options

Choosing a few retirement options (rather than just one) could help you get the retirement lifestyle you're after.