How does it work?

Tell us a few details

We'll need to know your age, current pension value and how much you'd like to withdraw.

Understand the impact

We'll show you how withdrawals could affect the tax you pay, and the rest of your retirement income.

Explore your options

Find out more about what you can do next and the support available to you.

The benefits of our lump sum calculator

  • Quick and simple

    It's easy to use, and in 5 minutes you’ll know more about lump sum withdrawals and the impact they can have.

  • Easy to understand

    We'll explain things like tax, growth rate and inflation so it's clear how the rest of your pension value could be affected.

  • A plan for your finances

    We'll help you figure out if a lump sum withdrawal is right for you, whether you're planning to use it for everyday spending or paying off something big.

lump sum calculator

Before you use the calculator

If you've already got a financial adviser, it's a good idea to speak to them first. They might already have a plan in place for how you'll access your pension savings when you retire. Advisers may charge for their services – though they should agree any fees with you upfront.

You can use this calculator if:

  • You are aged 55 or over and live in the UK
  • You haven't withdrawn money from this pension before
  • Your plan doesn’t have any safeguarded or protected benefits (e.g. enhanced tax free cash or guaranteed annuity rates) – If you withdraw a cash lump sum, it could impact these benefits
  • You don't have any serious health conditions. If you do, another withdrawal option might be best for you.

Important information

This calculator doesn't provide personalised advice or recommendations. What you actually get when you retire will depend on how your investments perform - this could be more or less than the amounts shown.

Calculate the impact of a lump sum withdrawal

If you withdraw a lump sum from your pension, it could affect your future retirement. Use our calculator to see how.

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