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Pension calculator

Enter your current pot, salary and contribution rates to see what your pension could be worth when you retire, how much you can take tax-free and the income the rest might provide.

Tax year 2026/27 Rules checked: November 2026 How we calculate

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Pot at 67£246,405in today's money
Tax-free lump sum (25%)
£61,601
Yearly income from the rest
£7,3924% a year, taxable
Contributions over the period
£119,981

Projection

Paid in so farPot
Age 40£16,323£40,768
Age 45£33,479£65,740
Age 50£51,510£95,632
Age 55£70,461£131,276
Age 60£90,378£173,638
Age 65£111,312£223,842
Age 67£119,981£246,405
  • Projections are illustrations, not guarantees: investments can fall as well as rise. Use a growth rate after charges and inflation to see the result in today’s money.
  • You can take up to 25% tax-free, capped at £268,275 across all pensions (the Lump Sum Allowance); withdrawals beyond that are taxed as income. Private pensions can be accessed from 55, rising to 57 from April 2028.
  • The State Pension is paid on top – check your forecast on GOV.UK.

This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency.

How the projection works

Each year your contributions (yours plus your employer’s, including tax relief) are added and the pot grows at the rate you choose. Enter a growth rate after charges and inflation – for example 3% – and the result is in today’s money, so you can compare it with what things cost now.

£20,000 pot at 35, £40,000 salary, 5% + 3% contributions, 3% real growth, retiring at 67

Pot at 67£246,405in today's money
Tax-free lump sum (25%)
£61,601
Yearly income from the rest
£7,3924% a year, taxable
Contributions over the period
£119,981

Auto-enrolment minimums

ContributionShare of qualifying earnings
Employer (minimum)3%
You, including tax relief5%
Total minimum8%

Qualifying earnings are earnings between £6,240 and £50,270 a year (2026/27), so 8% of qualifying earnings is less than 8% of your whole salary. Many employers pay more, or match extra contributions – it is usually worth taking the full match.

Taking your pension

From 55 (57 from April 2028) you can take 25% tax-free and draw the rest flexibly, buy an annuity for a guaranteed income, or combine both. Withdrawals above the tax-free part are added to your income for that tax year, so spreading them can keep you in a lower band. See income tax bands.

Questions people ask

How much do I need to pay into my pension?

Under auto-enrolment the legal minimum is 8% of qualifying earnings, with at least 3% from your employer. Paying more, or starting earlier, makes the biggest difference – try different rates in the calculator.

How much of my pension can I take tax-free?

Usually 25%, up to a lifetime maximum of £268,275 across all your pensions (the Lump Sum Allowance). The rest is taxed as income when you take it.

When can I access my private pension?

From age 55, rising to 57 from 6 April 2028, unless your scheme gives you a protected earlier pension age. The State Pension starts separately at your State Pension age.

Do I get tax relief on pension contributions?

Yes, at your marginal rate. With relief at source, the provider adds 20% and higher-rate taxpayers claim the rest through Self Assessment; with salary sacrifice you also save National Insurance.

Official sources

Rules checked: November 2026.

This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency. Read the full disclaimer.