Pension Calculator UK
Project your workplace pension + SIPP balance with auto-enrolment contributions (5% employee + 3% employer minimum), salary growth, and inflation. Updated for 2025–26.
Your details
Workplace Pension + SIPP at age 60
£863,595
In today's money: £355,790
Monthly retirement income
£1,186
Today's money (4% rule)
Years to retirement
30 yrs
Where your final balance comes from
Starting balance£50,000
Your contributions£107,045
Employer contributions£64,227
Investment growth£642,323
Country note: Auto-enrolment: 3% employer + 5% employee minimum. State Pension age is 66 (rising to 67). Earliest access age: 55.
Year-by-year growth
Watch your balance compound from £50,000 now to £863,595 at retirement.
Total balance (with growth)Contributions only (no growth)
Yearly projection table
| Age | Salary | Contributions | Growth | Balance |
|---|---|---|---|---|
| 31 | £45,000 | £3,600 | £3,626 | £57,226 |
| 32 | £46,350 | £3,708 | £4,136 | £65,070 |
| 33 | £47,741 | £3,819 | £4,689 | £73,577 |
| 34 | £49,173 | £3,934 | £5,288 | £82,799 |
| 35 | £50,648 | £4,052 | £5,938 | £92,789 |
| 36 | £52,167 | £4,173 | £6,641 | £103,604 |
| 37 | £53,732 | £4,299 | £7,403 | £115,305 |
| 38 | £55,344 | £4,428 | £8,226 | £127,959 |
| 39 | £57,005 | £4,560 | £9,117 | £141,636 |
| 40 | £58,715 | £4,697 | £10,079 | £156,412 |
| 41 | £60,476 | £4,838 | £11,118 | £172,368 |
| 42 | £62,291 | £4,983 | £12,240 | £189,592 |
| 43 | £64,159 | £5,133 | £13,451 | £208,175 |
| 44 | £66,084 | £5,287 | £14,757 | £228,219 |
| 45 | £68,067 | £5,445 | £16,166 | £249,831 |
| 46 | £70,109 | £5,609 | £17,684 | £273,124 |
| 47 | £72,212 | £5,777 | £19,321 | £298,222 |
| 48 | £74,378 | £5,950 | £21,084 | £325,256 |
| 49 | £76,609 | £6,129 | £22,982 | £354,367 |
| 50 | £78,908 | £6,313 | £25,027 | £385,706 |
| 51 | £81,275 | £6,502 | £27,227 | £419,435 |
| 52 | £83,713 | £6,697 | £29,595 | £455,727 |
| 53 | £86,225 | £6,898 | £32,142 | £494,767 |
| 54 | £88,811 | £7,105 | £34,882 | £536,755 |
| 55 | £91,476 | £7,318 | £37,829 | £581,902 |
| 56 | £94,220 | £7,538 | £40,997 | £630,436 |
| 57 | £97,047 | £7,764 | £44,402 | £682,602 |
| 58 | £99,958 | £7,997 | £48,062 | £738,661 |
| 59 | £102,957 | £8,237 | £51,995 | £798,892 |
| 60 | £106,045 | £8,484 | £56,219 | £863,595 |
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Frequently Asked Questions
What is auto-enrolment and how does it work?▾
Since 2012, UK employers must automatically enroll eligible employees (aged 22 to State Pension age, earning over £10,000/year) into a workplace pension. Minimum contributions are 5% from you + 3% from your employer = 8% total of qualifying earnings. You can opt out, but most don't — losing the employer match is a significant financial mistake. Most employers' pensions are stakeholder schemes or master trusts (NEST, NOW: Pensions, The People's Pension).
Workplace pension vs SIPP — which should I use?▾
Use BOTH. Workplace pension is essential — never skip employer match (free money). SIPP (Self-Invested Personal Pension) is for additional contributions beyond your workplace scheme: more fund choice, lower fees on platforms like Vanguard or AJ Bell, full flexibility. Many people max workplace at the match level, then top up with a SIPP. Combined annual allowance: £60,000.
What's the State Pension and when can I claim it?▾
The full new State Pension in 2025-26 is £11,502/year (about £221/week). You need 35 years of qualifying National Insurance contributions (or NI credits) to get the full amount. State Pension Age is currently 66 (rising to 67 by 2028, and 68 by 2046). Check your forecast at gov.uk/check-state-pension. This calculator doesn't include State Pension — add ~£11,500/year as a baseline.
Salary sacrifice into pension — why does everyone do it?▾
Salary sacrifice = employer pays your pension contribution directly out of your pre-tax/pre-NIC salary. You save income tax (20-45%) AND National Insurance (8% / 2%). Many employers also pass on the employer NIC saving (13.8%) to your pension. For a higher-rate taxpayer earning £80k, salary-sacrificing £10k into pension saves £4,200 in tax+NIC vs taking it as salary. Strongly worth it if your employer offers it.
When can I access my pension?▾
Currently age 55, rising to 57 from April 2028 (for everyone born after April 1971). At access age you can take 25% as a tax-free lump sum, then draw the rest down or buy an annuity. Withdrawing your pension is taxed as ordinary income in the year withdrawn — so phasing withdrawals across multiple tax years can be much more tax-efficient than taking a single large drawdown.
What's the Lifetime Allowance?▾
The Lifetime Allowance (LTA) was scrapped in April 2024. There's no longer a cap on total pension savings — but there is a Lump Sum Allowance (£268,275) limiting how much you can take as a tax-free lump sum. The annual contribution allowance (£60,000) still applies and tapers for high earners (above £260k adjusted income).
What return rate should I use for UK pensions?▾
Long-term UK equity returns: ~7-9% nominal historically. For a typical default workplace pension (lifestyle/target-date fund), expect 5-7% net of fees. After UK inflation (~2.5% historical, higher recently), real returns are ~3-5%. The calculator separates nominal from real (today's money) values — focus on the real number for purchasing power planning.
Should I use a workplace pension vs ISA?▾
Pensions: tax relief on contributions (20-47%), tax-free growth, but taxed on withdrawal (above 25% tax-free lump sum). ISA: no relief on contributions, tax-free growth, fully tax-free withdrawals. Generally: prioritize pension for employer match + tax relief, then ISA for flexibility. Younger people sometimes prioritize ISA for shorter-term flexibility, accepting they're 'leaving relief on the table' for now.