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Pension Calculator (UK)
Free UK pension pot calculator. Enter your age, salary, current pension pot, employee and employer contribution percentages, and assumed growth rate to project your retirement pot and estimated annual income. Based on compound growth with 4% drawdown. Estimate only.
Minimum auto-enrolment: 5%
Minimum employer contribution: 3%
Typical range: 4% (cautious) to 7% (growth). Default 5% is a moderate assumption before inflation.
Enter your details above to project your pension pot.
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Frequently Asked Questions
How much should I be paying into my pension?
Under auto-enrolment, the UK minimum is 8% of qualifying earnings: at least 5% from you and 3% from your employer. However, to retire comfortably, most financial planners recommend 15% of your salary or more. The earlier you start, the less you need to contribute each month.
What is the 4% drawdown rule?
The 4% rule is a widely used retirement income guideline suggesting you can withdraw 4% of your pension pot in the first year of retirement, then adjust for inflation each year, with a high probability of not running out of money over a 30-year retirement. It is a guide, not a guarantee.
What growth rate should I use?
A 5% annual growth rate (before inflation) is a common moderate assumption for a balanced pension fund. Conservative investors might use 3-4%. Growth-oriented investors might use 6-7%. Real returns (after inflation) are typically 2-3% lower than nominal returns.
Does this include the state pension?
No. This calculator projects your workplace or personal pension pot only. The full UK new State Pension for 2024/25 is £221.20 per week (approximately £11,502/year) for those with 35+ qualifying National Insurance years. Add this to your projected income for a fuller picture.
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