Project your retirement pot, check if you're on track & see the power of starting now — updated for 2026/27
Your details
yrs
yrs
£
£
£
£
%
Include State Pension in retirement income
Full new State Pension = £241.30/week (£12,548/year) from 2026/27
Projected pot
£0
at retirement
Years to grow
0
until retirement
Total contributed
£0
you + employer
How your pot grows
About growth rate: A 5% annual growth rate is a commonly used moderate assumption for a balanced pension fund. Lower risk funds may return 3–4%, higher risk funds 6–8%. Past performance does not guarantee future returns. The calculator uses compound growth annually.
Total monthly income
£0
in retirement
From pension pot
£0
per month
State Pension
£0
per month
Income breakdown
How income is calculated: Pension pot income uses the 4% sustainable withdrawal rate — a widely used rule of thumb suggesting you can withdraw 4% of your pot annually without running out of money over a 25–30 year retirement. This is a guideline only — actual drawdown depends on investment performance and how long you live.
⚠️ IHT change from April 2027: Unused pension pots will be included in your estate for inheritance tax purposes. If your combined estate plus pension pot exceeds £325,000 (or £500,000 with the residence nil-rate band), speak to a financial adviser about estate planning.
Age-based pension pot targets
Where do these targets come from? These benchmarks are based on widely used rules of thumb suggesting your pension pot should be approximately 1x your salary by age 30, 3x by 40, 6x by 50, and 10x by retirement. They assume a comfortable but not lavish retirement income. The Pensions and Lifetime Savings Association suggests a moderate retirement costs around £23,300/year for a single person.
Real cost to you
£0
per month after tax relief
Tax relief added
£0
per month from HMRC
Employer adds
£0
per month free
Where your pension money comes from
The cost of waiting to start your pension
Start now
£0
projected pot at retirement
Wait 5 years
£0
projected pot at retirement
Wait 10 years
£0
projected pot at retirement
Cost of waiting 10 yrs
£0
less in your retirement pot
Important: This calculator is for illustrative purposes only and does not constitute financial advice. Projections are based on assumed constant growth rates and contributions — real investment returns fluctuate. State Pension entitlement depends on your National Insurance record. Pension access age rises from 55 to 57 in April 2028. Always consult a qualified financial adviser for personal pension planning. Rates are current for 2026/27.
The UK State Pension pays £241.30 per week (£12,548/year) in 2026/27 — but for most people this alone won't fund a comfortable retirement. The average UK retirement lasts over 20 years, and financial experts suggest you need at least £23,300 per year for a moderate lifestyle. That means building a private pension pot to bridge the gap. Auto-enrolment ensures most employees are saving, but the minimum 8% contribution rate is rarely enough on its own. Use this free calculator to project your pension pot, see how tax relief and employer contributions turbocharge your savings, and understand the dramatic cost of starting late.
Frequently Asked Questions
How much should I have in my pension by my age?
A widely used rule of thumb suggests your pension pot should be approximately: 1x your annual salary by age 30, 3x by age 40, 6x by age 50, and 10x by retirement. So if you earn £35,000, you'd aim for £35,000 in your pension by 30, £105,000 by 40, £210,000 by 50, and £350,000 by retirement. These are guidelines not guarantees — your actual needs depend on your desired lifestyle, other assets, and whether you'll receive the full State Pension. Use the Am I On Track tab above to compare your current pot against these benchmarks.
How does pension tax relief work?
Tax relief means the government tops up your pension contributions with money you would otherwise have paid in income tax. For a basic rate taxpayer, every £80 you contribute becomes £100 in your pension — the government adds £20. For higher rate taxpayers, a £60 contribution becomes £100, with an additional £20 claimable via Self Assessment. This makes pensions one of the most tax-efficient savings vehicles available. For 2026/27, you can receive tax relief on contributions up to the lower of £60,000 or 100% of your annual earnings (the annual allowance). Employer contributions also count toward this limit.
What is auto-enrolment and am I contributing enough?
Auto-enrolment requires employers to automatically enrol eligible employees into a workplace pension. The minimum total contribution is 8% of qualifying earnings — split as at least 3% from your employer and 5% from you (including tax relief). Qualifying earnings are those between £6,240 and £50,270. However, 8% is widely considered insufficient for a comfortable retirement. Research suggests a total contribution rate of 12–15% is needed for most workers. A useful rule of thumb: aim to contribute half your age as a percentage of salary — start at 30 and you should aim for 15% total contributions.
How much will the State Pension pay me?
The full new State Pension for 2026/27 is £241.30 per week (£12,548 per year). To receive the full amount, you need 35 qualifying years of National Insurance contributions. You need a minimum of 10 qualifying years to receive any State Pension. The State Pension age is currently rising from 66 to 67 between 2026 and 2028, with a further rise to 68 planned between 2044 and 2046. You can check your personal State Pension forecast at gov.uk/check-state-pension — it takes about 5 minutes and shows exactly how much you're on track to receive.
When can I access my pension?
The minimum pension access age is currently 55, rising to 57 in April 2028. You can take up to 25% of your pension pot as a tax-free lump sum (capped at £268,275). The rest can be taken as drawdown income, an annuity, or a combination. Any income you take from your pension is subject to income tax in the normal way. You do not have to access your pension at the minimum age — the longer you leave it, the more it grows. There is no requirement to take your pension at the State Pension age either.
What is the pension annual allowance?
The annual allowance is the maximum amount you can contribute to pensions each tax year while still receiving tax relief. For 2026/27 it is £60,000 (or 100% of your earnings, whichever is lower). This includes your own contributions, your employer's contributions, and tax relief. If you exceed this limit, you face an Annual Allowance Charge which claws back the tax relief on the excess. High earners with adjusted income above £260,000 face a tapered allowance, reducing to a minimum of £10,000. You can also carry forward unused allowance from the previous three tax years.
Will my pension be subject to inheritance tax?
Currently, pension pots sit outside your estate and are not subject to inheritance tax — making them one of the most tax-efficient assets to pass on. However, from April 2027, the government has confirmed that unused defined contribution pension pots will be included in your estate for inheritance tax purposes. This is a significant change. If your combined estate plus pension pot exceeds the nil-rate band (£325,000, or up to £1 million for couples with the residence nil-rate band), you should speak to a financial adviser about your estate planning before April 2027.