Pension Calculator (UK)

Pot when you retire: £239,562.22
In today's money: £129,217.61
Total paid in (including tax relief): £125,000.00
Investment growth: £114,562.22
Tax-free lump sum (25%): £59,890.56

Year 25 £239,562.22 Paid in £125,000.00Growth £114,562.22

Paid inGrowthPot at the end of each year

What it does

Project what your pension could be worth when you retire. Enter your pot today, what you and your employer pay in, how long until you retire and a growth rate, and see the final pot, what it's worth in today's money, and the 25% you could usually take tax-free. It allows for UK tax relief and charges.

How to use it

Pension pot today: What your pensions are worth now, from your latest statements. Use 0 if you're just starting.
You pay in each month: Your own contribution each month, from your payslip or pension statement.
Tax relief on what you pay: With relief at source, common for personal pensions and SIPPs, your provider adds 25% to what you pay: £80 becomes £100. If your contribution comes out before tax, or through salary sacrifice, the relief is already in the figure.
Employer pays in each month: Your employer's contribution, on your payslip or pension statement. Under auto-enrolment it's at least 3% of qualifying earnings.
Years until you retire: How long until you plan to start taking it. The earliest you can usually take a private pension is 55, rising to 57 in 2028.
Investment growth a year: Before charges. Nobody knows future returns: 5% is a middle estimate for a mixed fund, so also try 2% and 8%.
Annual charges: The fees your provider takes each year, on your statement. Auto-enrolment default funds are capped at 0.75%.
Yearly contribution rise: How much your contributions go up each year. If they rise with your pay, say 2 or 3% a year. Use 0 to keep them the same.
Inflation a year: Used to show the pot in today's money, so you can judge what it will really buy. The Bank of England aims for 2%.

Common uses

Checking whether you're saving enough for retirement.
Seeing what difference a higher contribution or lower fees would make.
Projecting savings or an ISA instead. Try the Compound Interest Calculator
Seeing what inflation does to the value of money.

The formula

Each month: pot = pot × (1 + r) + monthly contributionsr = ((1 + growth) × (1 − charges))^(1/12) − 1In today's money = final pot ÷ (1 + inflation)^years

Where:

Monthly contributions: yours (plus 25% relief at source, if it applies) plus your employer's
Tax-free lump sum: usually 25% of the pot, up to £268,275 in total

A projection, not a promise: investments can fall as well as rise. It doesn't include the State Pension. For personal advice, speak to a regulated financial adviser or the free government service MoneyHelper.

Worked example

Starting with £20,000, paying in £350.00 a month (you £200, your employer £150) for 25 years:

Growth after charges: 5% less 0.75% ≈ 4.21% a year
Total paid in: £125,000.00
Pot at retirement: £239,562.22, of which £114,562.22 is investment growth
In today's money, with 2.5% inflation: £129,217.61

Questions people ask

How much should I have in my pension?

A common rule of thumb is to save half your age as a percentage of your salary when you start (start at 30, save 15%). Retirement Living Standards from the Pensions and Lifetime Savings Association give yearly budgets for a minimum, moderate and comfortable retirement.

What's 'in today's money'?

Prices rise over time, so £300,000 in 25 years won't buy what £300,000 buys now. Today's money divides by inflation over the years, so you can compare the pot with what things cost now.

How does pension tax relief work?

The government tops up your contributions with the income tax you'd have paid. Basic rate relief is 20%, so £80 from you becomes £100 in the pension. Higher and additional rate taxpayers can claim more through Self Assessment. Your yearly tax-relieved contributions are limited by the annual allowance, £60,000 for most people.

Last checked 26 October 2026