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Pension Fund Projector

This calculator simply projects forward a planned single and/or monthly premium, and highlights and estimates any shortfall between the planned provision and the target.

Most people can simply make contributions to bridge the gap as, usually, tax relief is available subject to contribution limits. High earners - £150,000pa+ - may not get full higher and additional rate relief - see your financial adviser if you are in this category.

This calculator ignores all pre-existing pensions, be they personal, corporate or state, unless you decide to actively include them (see the numbered notes).

Charges are as per a representative contact. Your actual charges may be different.

Growth is fixed at 7% gross per annum and inflation is fixed at 2.5% per annum.

(1)
(2)
(3)
eg 0.03 for 3% (4)

*This calculator assumes that the entire fund is used for pension. In practice you might take some as tax free cash.

(1) If you have existing pensions funds for which you know the current value, you can include these. E.g. existing personal pension of £100pm is worth £10,000 and you are thinking of a single premium of £5,000, put £15,000.

(2) If you have existing pension funds for which you know the current value, you can include these - e.g. existing personal pension of £100pm and you are thinking of an extra £150pm, put £250.

(3) Target income is your ideal pension income in today's terms (although the buying power of this amount will be eroded in the future by the effect of inflation). The calculator ignores state pensions, so bear in mind that these will add to your income.

e.g. - A couple with no children, both working and who want to retire on £21,000pa should put a target income of £10,000 because they will be getting circa £11,000pa in State Pension, taking them up to the £21,000 they want.

(4) Annuity Rates (how much pension your fund buys) vary with age, health, and long term interest rates. Contact your financial adviser to discuss these in more detail.

Rates are purely for illustration purposes only. Actual rates could be more or less than the rates used.

The value of investments can fall as well as rise and you may not get back the amount you originally invested. Past performance is not a guide to future performance.

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