iframecalculator

Calculate your pension income

Gender

Used to calculate pension income including spouse benefit.

Current age

Used to calculate your total pension pot and pension income. Minimum age 16 years, maximum age 75 years.

Retirement age

Used to calculate your total pension pot and pension income. Minimum age 55 years, maximum age 75 years.

Existing pension pots (£)

Find this in your pension statement. Be accurate as possible. This will avoid possible differences between actual and predicted income.

Current personal monthly contributions (£)

Find this on your payslips. If using a private pension provider, input the amount you pay monthly, including tax relief from HMRC.

Current employer’s monthly contributions (£)

The amount your employer contributes to your pension scheme each month - found on your payslips.

Include UK state pension*

Select if you want the calculation to assume full State Pension is payable from State Pension age.

Include spouse benefit

Select if you want your pension income to continue to your spouse if you die first.

Reset all fields

Calculate your pension income

Edit calculation

Your pension pot could be

£0

In today’s value, that’s an annual pension of around

£0

Growth to retirement

£0

Today

Retirement age

Your projected pot

In today’s value

What does this figure mean in terms of lifestyle?

The Pension and Lifestyle Savings Association have calculated retirement amounts and the quality of lifestyle they could give.

So, are you on track for the lifestyle you want?

Lifestyle not what you expected? We could help.

Get in touch

Source: Pension And Lifetime Savings Association

Figures correct as at XX/XX/XXXX

Assumptions underlying the calculations

Lifestyle questions and figures are based on The Retirement Living Standards created by the Pensions and Lifetime Savings Association, January 2024. More detail is available through their website: https://www.retirementlivingstandards.org.uk/.

You have chosen to invest in a St. James's Place Retirement Account.

The calculations assume your contributions remain level.

The calculations assume that your fund grows at 5.72% p.a. and is invested into the Balanced Portfolio.

Total annual charge of 2% have been taken into account in the above calculations.

Inflation assumption is CPI of 2%.

The figures shown are for a single life pension without increase with inflation, payable monthly in advance and guaranteed for 5 years if you die within this period.

All payments and cashflows are monthly in advance.

Pension pot value is rounded for convenience.

Annual pension value rounded to the nearest £100.

The calculations assume that no tax-free cash is taken at retirement from the pension pot, but it is all used to purchase an annuity.

Annual Allowance has not been considered and all contributions are shown gross of tax

Spouse Age for joint life annuity calculation assumes if 1st life is Male, spouse age = 1st life Age - 3 years. If 1st life is Female, spouse age = 1st life Age + 3 years. For all other cases : 1st life age is equal to spouse age.

State pension assumed to be full state pension. For tax year 2024/25, this is £11,500.

Mortality table is from https://www.actuaries.org.uk/learn-and-develop/continuous-mortality-investigation/other-cmi-outputs/unisex-rates-0.

All assumptions are reviewed regularly at tax year end.

The State Pension age is currently 66 and is scheduled to increase to 67 in 2028. The State Pension becomes payable only after reaching this age, even if you choose to retire earlier.

This calculator only considers Money Purchase pension and State Pension, other types of retirement income (such as defined benefit pensions) are not included.

Your pension income could be more or less than this and will depend on your investment performance and on the annuity rate at the time you retire.

The figure provided is an example only and not guaranteed - this isn't a minimum or maximum amount. What you will get back depends on how your investment grows and on the tax treatment of the investment. You could get back more or less than this.

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested. 

This item is for guidance purposes only. It is not a projection and should not be treated as such.

St. James’s Place plc can accept no responsibility for any loss which may occur as a result of reliance on this information.

It is based on our understanding of current legislation and HMRC practice. It does not constitute legal or taxation advice.

This is based upon expected growth rate of the investments, inflation and management fees which have been input. 

These calculations were produced using St. James's Place Pension Shortfall Calculator version 84.4.0 (SS).