Pension Calculator - Target pension pot

Please enter your Target Pension Pot. *

Your age *

Gender *

What are your earnings each year? *

Gross £

At what age would you like to retire (between 55 and 74)? *

Would you like your pension income to keep pace with inflation? *

When you retire would you like to take the tax free lump sum (25% of your fund)? *

If you have an existing pension fund, please enter its current value.

Existing pension fund contribution, per month.	Gross £
	OR
	% of your salary

Existing pension fund employer contribution, per month.	Gross £
	OR
	% of your salary

(A) Spouse's pension (50%)? *

* Mandatory

Pension Assumptions:

- The figures are for illustrative purposes only.
- The calculation results show, in today's prices, the pension that might be payable when you retire. This gives us an indication of how
  much you would be able to buy with your pension if it were payable today.
- When determining the values at today's prices an annual inflation rate of 2.5% is used to reduce the value of the pension pot and pension
  payable at retirement.
- If selected a tax free lump sum of 25% is deducted from the pension pot.
- Unless otherwise indicated the fund growth rate used is 7% and an annual management charge of 1.5% for the first 10 years and 1%
   thereafter is applied.
- Monthly contributions are assumed to increase each year in line with inflation (2.5% each year).
- Annuity rates used are sourced from a comprehensive pension website for the UK financial services industry.
- Male life expectancy is: 76.6 years, female life expectancy is: 81 years.
- (A) Selecting a spouse's pension reduces the annuity income payable to you. Should you die in retirement, 50% of the pension income
   will be paid to your spouse.

Disclaimer