Pension calculator
See how much your pension pot could be worth when you retire.
Illustrate a possible defined-contribution pension pot at retirement using your existing balance, total monthly contribution, years remaining and a constant growth assumption.
Example calculation
Based on the example figures in the form. Enter your own details, then select Calculate.
Illustrative pension pot
£455,808.63
- Starting amount
- £30,000.00
- Total paid in, including starting amount
- £174,000.00
- Investment growth
- £281,808.63
An estimate based on the assumptions below. For information only, not financial advice.
How this is calculated
Assumes a constant effective annual rate and contributions at the end of each month. Figures are before withdrawal tax, fees and inflation. For defined-contribution pensions only; excludes the State Pension and any retirement income calculation. Enter contributions including any tax relief, which is not added separately. This is an illustration, not a forecast. Investments can fall in value, and you could get back less than you put in.
Calculation method
Pension pot = P × (1 + r)ⁿ + C × ((1 + r)ⁿ − 1) ÷ r
P is the current pension pot, C includes all contributions paid into the pot each month, and n is the months until retirement. The monthly rate r is derived from the effective annual growth assumption. Employer contributions and tax relief are not added automatically.
Worked example
A £30,000 starting pot plus £400 a month for 30 years contains £174,000 of starting capital and contributions. At 0% growth the illustration ends at £174,000 before any charges. A different growth assumption changes the illustrated balance but not the amount contributed.
Method documented: · How we check calculations · Report an error
Common questions
Should my monthly contribution include employer payments?
Yes. Enter the total amount reaching the pension, including employer contributions and any tax relief credited to it. The tool does not calculate tax relief or contribution limits.
Does this include the State Pension or a final-salary pension?
No. This is a pot-growth illustration for a defined-contribution pension. It does not calculate the State Pension, defined-benefit income or entitlement.
How much retirement income will the pot provide?
This tool does not convert the pot into income. That depends on withdrawal choices, future returns, charges, tax, lifespan and any annuity terms.