How much pension will I have at retirement?

It depends on your contributions, employer match, and investment returns. A 30-year-old earning £45,000, contributing 5% with a 3% employer match and 5% annual growth, could have a pot of around £450,000 by age 67 — enough for roughly £18,000/year using the 4% withdrawal rule.

How much is the State Pension in 2025/26?

The full new State Pension is £230.25 per week (£11,973 per year) in 2025/26. You need 35 qualifying years of National Insurance contributions for the full amount, and a minimum of 10 years to receive anything. Check your record at gov.uk/check-state-pension.

UK Pension Calculator

Q: What is auto-enrolment?

Auto-enrolment is a UK law requiring employers to set up a workplace pension and automatically enrol eligible employees. The minimum contribution is 8% of qualifying earnings (5% employee, 3% employer). You can opt out, but you'd lose the employer contribution — essentially free money.

Q: When can I access my pension?

You can access your workplace/private pension from age 55 (rising to 57 from 2028). The State Pension age is currently 67. You can take up to 25% of your pension pot as a tax-free lump sum. The rest is taxed as income when you withdraw it.

How much will your pension pot be at retirement? What State Pension will you get?

Your details

Current age

years

Retirement age

years

UK State Pension age is currently 67

Annual salary

Your contribution

Auto-enrolment minimum: 5%

Employer contribution

Auto-enrolment minimum: 3%

Current pot value

Expected annual return

Typical: 4–7% for a diversified fund

—

State Pension rates for 2025/26. Workplace projections assume constant contributions and returns.

How to Use This Calculator

Workplace Pension tab

Enter your current age and retirement age (default 67). Add your annual salary, employee contribution (e.g. 5%) and employer contribution (e.g. 3%). If you already have a pension pot, enter its current value. Finally, set your expected annual investment return — the calculator projects your total pot at retirement and your estimated annual income using the 4% safe withdrawal rule.

State Pension tab

Enter your National Insurance qualifying years (you need 35 for the full State Pension). The calculator shows your weekly and annual State Pension entitlement based on the current full rate of £230.25 per week.

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The Formula

Workplace pension projections use the future value of a growing investment with regular contributions. The State Pension is a proportion of the full rate based on qualifying years.

FV = PV(1+r)ⁿ + PMT × [(1+r)ⁿ − 1] / r

Where FV is the future value of your pension pot, PV is the current pot, r is the annual return rate, n is years to retirement, and PMT is total annual contributions (employee + employer).

State Pension

Weekly State Pension = (Qualifying Years / 35) × £230.25

You need a minimum of 10 qualifying years to receive any State Pension. The maximum is 35 years for the full amount.

Annual retirement income

Annual Income = Pension Pot × 4% (safe withdrawal rule)

The 4% rule is a widely used guideline suggesting you can withdraw 4% of your pot each year for a sustainable retirement income lasting roughly 30 years.

Example

Lisa — planning for retirement at 67

Lisa is 30 years old, earns £45,000 a year, and wants to know what her pension could look like when she retires at 67. She contributes 5% and her employer adds 3%. She already has £10,000 in her pot and expects a 5% annual return.

Workplace Pension tab

Current age30

Retirement age67

Annual salary£45,000

Employee contribution5%

Employer contribution3%

Total annual contributions£3,600/yr

Current pot£10,000

Expected return5%

Results:

Projected pot at 67~£447,000

Annual income (4% rule)~£17,880

Lisa's workplace pension alone could provide roughly £17,880 per year in retirement. Combined with the State Pension, her total income would be considerably higher.

State Pension tab

NI qualifying years35

Weekly State Pension£230.25

Annual State Pension£11,973

With 35 qualifying years, Lisa receives the full State Pension of £230.25 per week — that's £11,973 per year. Combined with her workplace pension income, her estimated total retirement income is roughly £29,853 per year.

FAQ

How much should I save for retirement? ▼

A common rule of thumb is to save half your age as a percentage of your salary. If you start at 30, aim for 15%. At a minimum, you should be contributing at least 8% in total (employee + employer combined) to build a meaningful pot. The earlier you start, the more compound growth works in your favour.

What is auto-enrolment? ▼

Auto-enrolment is a UK government scheme that requires employers to automatically enrol eligible workers into a workplace pension. The minimum contributions are 5% from the employee and 3% from the employer, totalling 8% of qualifying earnings. You can opt out, but you'd lose the employer contribution — essentially turning down free money.

When can I access my pension? ▼

You can currently access your workplace pension from age 55. This is rising to 57 from 2028. The State Pension age is 67 for most people. You don't have to stop working to claim either — but you cannot access your workplace pot early without significant tax penalties except in very limited circumstances.

What's the 4% rule? ▼

The 4% rule is a retirement income guideline. It suggests that if you withdraw 4% of your pension pot in your first year of retirement — and adjust for inflation each year after — your money should last roughly 30 years. For example, a £400,000 pot would give you £16,000 per year. It's a useful starting point, though actual results depend on investment returns and spending.

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