FIRE Calculator
Work out your financial independence target and time to reach it.
Use calculator →
Personal finance calculator
Pension Calculator UK
Estimate your future pension pot, total contributions, investment growth, fee impact and possible retirement income.
2026/27 annual allowance: £60,000
Employer contributions included
Fees and withdrawal rate
Search other calculators & tools
Calculate your pension projection
Enter your current pension pot, contributions, expected growth and retirement age. The calculator updates automatically.
Your age today.
Age you plan to access retirement income.
Current private pension value.
What you pay in each month.
What your employer pays in each month.
Investment growth assumption before fees.
Platform, fund or pension charges.
Used to estimate possible yearly income.
How to use this calculator
- Enter your age, retirement age and current pension pot.
- Add your monthly contribution and your employer’s contribution.
- Set an estimated annual growth rate and pension fees.
- Review your projected pot and possible annual income estimate.
What your pension result means
The projected pension pot is an estimate of what your private pension could be worth at retirement, based on the growth, fees and contribution assumptions entered.
The possible annual income uses your chosen withdrawal rate. It is a simple planning figure, not a guaranteed income and not a personalised retirement plan.
Projection warning: pension investments can fall as well as rise. Actual returns, fees, contribution levels and retirement rules may change.
Compare pension planning with ISA planning
A pension can be powerful for retirement, while an ISA can give more flexible tax-free access. Compare both before deciding where extra savings should go.
Calculatorz may earn a commission if you use some links. This does not affect your calculator result.
How private pension projections work
A pension projection combines your existing pot, future contributions and expected investment growth. Employer contributions can make a major difference because they add extra money on top of your own payments.
The calculator uses net growth after annual fees. For example, if you enter 5% growth and 0.5% fees, the calculator uses a 4.5% net annual growth assumption.
The standard 2026/27 Pension Annual Allowance is £60,000, but high earners and people who have flexibly accessed pension savings may have a lower allowance.
This calculator does not include State Pension, tax-free lump sum rules, tax on pension withdrawals, carry forward, tapered annual allowance or the Money Purchase Annual Allowance.
What affects your pension projection
- Current pot: a larger pension pot has more time to compound before retirement.
- Employee contributions: your monthly payments build the pension over time.
- Employer contributions: employer payments can significantly increase the final pot.
- Growth rate: higher assumed investment growth increases the projection, but is not guaranteed.
- Fees: pension and fund charges reduce the net growth rate.
- Time to retirement: a longer period gives contributions and growth more time to build.
- Inflation: the future spending power of your pension may be lower than the headline figure suggests.
Pension calculator formula
The calculator simulates monthly growth and monthly contributions until your selected retirement age.
years_to_retirement =
retirement_age - current_age
monthly_contribution =
employee_monthly + employer_monthly
net_growth_rate =
annual_growth_rate - annual_fees
monthly_rate =
net_growth_rate / 100 / 12
repeat each month:
balance = balance × (1 + monthly_rate)
balance = balance + monthly_contribution
total_contributions =
current_pot + monthly_contribution × months
estimated_growth =
projected_pot - total_contributions
possible_annual_income =
projected_pot × withdrawal_rate
Pension quick reference
Figures shown are for the 2026/27 tax year.
| Item | 2026/27 figure | How this calculator uses it |
|---|---|---|
| Standard pension annual allowance | £60,000 | Used for a contribution warning if annual inputs exceed this amount. |
| Minimum tapered annual allowance | £10,000 | Shown as a caveat for high earners, but not modelled in detail. |
| Money Purchase Annual Allowance | £10,000 | Not modelled. Relevant if you have flexibly accessed pension savings. |
Pension calculator FAQs
How does this pension calculator work?
It projects your pension pot using your current pot, monthly contributions, employer contributions, annual growth rate, fees and time to retirement.
What annual allowance does it use?
It uses the standard 2026/27 pension annual allowance of £60,000 for the warning message. It does not model every tapered allowance or carry-forward case.
Is the projected pension pot guaranteed?
No. Pension investments can rise and fall, and actual returns, fees and contributions may differ from your assumptions.
What is the withdrawal rate?
The withdrawal rate is a simple percentage of the projected pot used to estimate possible yearly income. It is not a guaranteed income plan.
Does this include State Pension?
No. This calculator estimates private pension pot growth only. State Pension entitlement should be checked separately.
Key terms used in this calculator
These glossary pages explain the main terms used when planning pension contributions and retirement income.