What is the Rest Less pension calculator?
- How much do I need to save for retirement?
- What will my pension pot be worth?
- How long will my pension pot last?
Calculate your pension
The calculator should be used to give an indication of your future pension growth but not as an exact representation of your position. If you are wanting a more accurate forecast of your pension please consider seeking financial advice. As with all investments, your capital is at risk.
In order to make the pension calculator as easy to use as possible, its outputs and calculations are based on several assumptions. You can read the details of those below.
- Pre-retirement, your pension pot grows at an average rate of 5% per year (2% for the lower range, 8% for the upper range in the chart)
- Post-retirement, your pension pot only grows at the same rate as inflation (3%)
- Annual inflation is 3% pre-retirement and post-retirement
- Personal contributions receive a 25% top-up from HMRC
- One-off pension contributions receive a 25% top-up from HMRC
- Employer contributions do not receive any top-up
- The sum of your contributions are within your annual allowance
- The sum of your contributions are within your lifetime allowance
- The fee for the management of your pension is 0.6% per year
- Desired annual income after retirement is before tax
- Additional earnings post retirement are before tax
- You are eligible for the full state pension of £9,627 per year
- State pension can not be taken before age 67
- You only start benefiting from the state pension after you retire
- To calculate the tax amount when you take your entire pension as cash, we assume that your annual income is £31,285 (average UK salary)
- Rates of annuity based on averages from https://www.sharingpensions.co.uk/annuity_rates.htm as of May 2022
- Based on a Central London postcode
- Annuity rates for a non-smoking individual with no health condition
- The annuity amount is before tax
Kevin gave me very helpful and clear…
Kevin gave me very helpful and clear information which will enable me to make an informed decision. Professional and friendly service. Definitely worth the meeting. The pension information has clarified many questions for me.
Practical & sound pension advice from Restless. Gratefully received information as I do find this topic to be a minefield.
This is an excellent service and it was…
This is an excellent service and it was completely free. Kevin was helpful, informative. I am now much clearer about my options regarding pensions and what I need to address to achieve a comfortable retirement.