Retirement Calculator
Estimate retirement savings growth, portfolio size for income, and whether your projected balance is on track for a chosen goal.
Retirement Details
Enter your retirement planning figures.
Retirement Summary
Projected Balance
GBP 748,550.57
By age 67, your estimated balance will be GBP 748,550.57, including GBP 217,000.00 in contributions and GBP 531,550.57 in growth.
Total Contributions
GBP 217,000.00
Investment Growth
+GBP 531,550.57
Estimated Value in Today's Money
GBP 339,670.20
Balance Over Time
Yearly Projection (5-Year Intervals)
| Age | Total Contributions | Investment Growth | Estimated Balance |
|---|---|---|---|
| 35 | GBP 25,000.00 | +GBP 0.00 | GBP 25,000.00 |
| 40 | GBP 55,000.00 | +GBP 13,606.27 | GBP 68,606.27 |
| 45 | GBP 85,000.00 | +GBP 42,424.59 | GBP 127,424.59 |
| 50 | GBP 115,000.00 | +GBP 91,761.70 | GBP 206,761.70 |
| 55 | GBP 145,000.00 | +GBP 168,775.56 | GBP 313,775.56 |
| 60 | GBP 175,000.00 | +GBP 283,121.23 | GBP 458,121.23 |
| 65 | GBP 205,000.00 | +GBP 447,821.90 | GBP 652,821.90 |
| 67 | GBP 217,000.00 | +GBP 531,550.57 | GBP 748,550.57 |
About This Retirement Calculator
This retirement calculator helps turn a broad retirement question into a few testable numbers. It can project how current savings and monthly contributions may grow by retirement age, estimate the portfolio size implied by a desired annual income and withdrawal rate, or compare a projected balance with a retirement goal.
The three tabs are deliberately different. Savings Projection is for balance growth from current age to retirement age. How Much? works backwards from desired annual income and withdrawal rate. Am I On Track? compares the same projected balance against a target you choose.
The projection modes also show an inflation-adjusted estimate in today's money. That does not make the result a full pension forecast, but it helps separate a future account balance from the spending power it may represent.
This calculator does not model state pension, Social Security, defined benefit pensions, tax, account withdrawal rules, healthcare costs, or changing investment returns. Use it as a retirement planning estimate, then check any real pension, tax, or investment decisions against official provider figures.
Retirement Planning Example
Imagine a 35-year-old with GBP 40,000 already saved who contributes GBP 500 per month until age 67. At a 5% annual return, the projected balance may look substantial, but the inflation-adjusted figure can feel much smaller in today's spending power.
That difference is the reason retirement planning should look at both balance and income. A future pot is useful only if the withdrawal assumption, inflation assumption, and retirement spending target are realistic.
Why Retirement Projections Matter
Retirement shortfalls are easier to fix early. A gap at age 35 may be addressed by a modest monthly increase, while the same gap at age 60 may require delayed retirement, lower spending, part-time work, or a more aggressive savings plan.
The calculator is also useful for stress testing. Try lower returns, higher inflation, or a shorter contribution period to see how sensitive your plan is to conditions outside your control.
How to Strengthen Your Retirement Plan
Start by checking whether you are capturing any employer pension match, then review your monthly contribution rate, investment fees, and retirement age assumption. Even a one percentage point increase in savings rate can compound meaningfully over decades.
Keep retirement projections realistic. Include inflation, avoid assuming unusually high returns, and revisit the plan after major life changes such as buying a home, changing jobs, becoming self-employed, or reducing working hours.
Reading the result with real-world context
The projection modes use current age, retirement age, current savings, monthly contribution, expected return, and inflation assumption.
The How Much? mode is a withdrawal-rate shortcut: annual income divided by withdrawal rate. It does not simulate year-by-year withdrawals.
The on-track result compares the projected balance with the goal you enter, so the quality of the result depends on whether that goal is realistic.
Taxes, pension access rules, state pension, Social Security, healthcare costs, and changing returns are not modelled.
Common mistakes to avoid
Solving a shortfall by entering an unrealistically high return assumption.
Treating the future balance as today's spending power when inflation is material.
Using a withdrawal-rate shortcut as if it were a full retirement-income plan with tax and sequence-of-returns modelling.
How to combine this with related calculators
Use retirement savings when you only need growth from current savings and monthly contributions.
Use fire when the goal is financial independence or early retirement using FIRE-style annual expenses and withdrawal rate.
Use inflation adjusted return when you want to separate nominal returns from real purchasing-power growth.
When to revisit the numbers
Rerun the plan when contributions, savings, expected return, inflation assumption, retirement age, or desired income changes.
Review after major life events such as buying a home, changing jobs, becoming self-employed, taking parental leave, or reducing working hours.
Keep the assumptions visible so you can see whether progress changed because of saving behaviour, market returns, or a different target.
How to Use This Calculator
- 1
Project your savings growth
Use the Savings Projection tab. Enter your current age, planned retirement age, existing savings, and monthly contribution. The calculator uses compound interest to estimate your total balance at retirement, broken down into contributions and investment growth.
- 2
Calculate how much you need
Switch to the How Much? tab. Enter the annual income you want in retirement and the withdrawal rate you want to test. The calculator divides income by withdrawal rate to estimate the portfolio size implied by that assumption.
- 3
Check if you are on track
Use the Am I On Track? tab. Enter the same savings details plus a retirement goal. The calculator compares your projected balance against your target, showing whether you have a surplus or a shortfall.
- 4
Adjust your plan
If you are behind, experiment with increasing your monthly contribution, delaying your retirement age, changing the inflation assumption, or targeting a higher return. Small changes compound significantly over long timeframes, and inflation can change what your final balance is really worth.
Frequently Asked Questions
What is a good expected annual return?
Use a cautious long-term assumption rather than the best return you can imagine. A higher expected return makes the projection look better, but it also increases the risk of overestimating your retirement balance. Test lower and higher rates so you can see how sensitive the result is.
What is the 4% rule?
The 4% rule is a common retirement planning shortcut: annual income is estimated as 4% of the portfolio. For example, a GBP 500,000 portfolio implies GBP 20,000 per year before tax and fees. It is a starting assumption, not a guarantee, and it may be too high or too low depending on retirement length, inflation, investment mix, and market returns.
Should I include inflation in my calculations?
Yes. The projected balance is useful, but the inflation-adjusted value is often more meaningful because it estimates what that money may buy in today's terms. A GBP 750,000 retirement pot decades from now can feel large, but inflation can materially reduce its purchasing power. Use the inflation assumption to sanity-check whether your target is still realistic.
How much of my income should I save for retirement?
A commonly cited guideline is to save 15% of your gross income for retirement, including any employer contributions. However, the right figure depends on when you start. Starting at 25 allows more time for compounding, so a lower percentage may be sufficient. Starting later may require 20-25% or more to catch up. The key is to start as early as possible and increase contributions when your income rises.
Does this calculator account for taxes?
No. The calculator shows pre-tax projections and does not apply pension rules, account limits, tax relief, income tax, social security, required distributions, or country-specific withdrawal rules. Treat the output as a planning estimate, then check tax-sensitive decisions with the relevant provider, official guidance, or a qualified adviser.
What if I am behind on my retirement savings?
If the 'Am I On Track?' tab shows a shortfall, test the levers you control first: increasing monthly contributions, delaying retirement age, lowering the target, or reviewing the return assumption. Be careful about solving a shortfall only by entering a higher return, because the calculator does not model investment risk.
Is the Retirement Calculator financial advice?
No. It is a general planning estimate based on the values you enter. Confirm important borrowing, investing, tax, or property decisions with qualified professionals and official terms from lenders or providers.
How often should I update my inputs?
Update when rates, income, prices, rent, contributions, or goals change materially. For most household finance decisions, reviewing every few months or after a major change is enough.
Why might this differ from my bank or broker quote?
Provider projections may include fees, tax rules, contribution timing, pension rules, fund-specific assumptions, or regulatory growth rates. This calculator uses the simple assumptions you enter so scenarios stay easy to compare.