Retirement planner

Our retirement planner is designed to give you an idea of what income you could get when you retire.

Simply tell us a few personal details and how much income you'd like and we'll let you know if you're on track. You can also do a quick comparison to see what effect making a few changes to your retirement plans might make.

Before you start using the planner, please read our important information to understand how it works and the assumptions it makes to create the final report.

The final report 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.

  • By using the planner, you consent to your information being used to create the final report. No data has been saved.
  • The figures shown are a guide only. Remember that investment returns are never guaranteed. So you could get back less than you started with.
  • Key features, together with an illustration, based on your individual circumstances, will be provided before you make a decision to invest.
  • You may be charged for any advice given by your financial adviser. Any such charge or cost should be confirmed at outset. No allowance has been made for commission or fees paid for financial advice.
  • To give you a better idea of what you would be able to buy with your fund if it were payable today, the figures allow for future inflation of 2% a year. Inflation reduces the worth of all savings and investments including the value of your plan. The figures illustrate in today’s prices the retirement income that could be payable when you reach your chosen retirement date.

    We’ve assumed that your investment grows at 3% each year above inflation. The calculator assumes an annual charge of 1% is deducted from your fund. The charges for your plan may be different.
  • Contributions you make to a pension will normally receive basic rate tax relief, even if you don’t pay tax. For every £1 you invest, the taxman can put in another 25 pence. Higher rate tax payers may be able to claim extra tax relief. You can only receive tax relief on your contributions up to the higher of £3,600 or 100% of your gross earnings, in each tax year. This applies to all contributions you make to other plans you may have with us and other providers. There’s no tax relief on your employer’s contributions, if included. If you’d like more information, you should speak to a tax specialist who will be able to advise you on your individual circumstances.
  • Your annual contributions are limited to 100% of your gross UK earnings. Also, the Government has set a limit on the amount of pension contributions you can make each year before they’re taxed. This is called the annual allowance. The annual allowance for the 2022/23 tax year is £40,000, which means you could contribute £40,000 before a tax charge may apply.
  • References to taxation are based on our understanding of the current law and practice in the 2022/23 tax year and may be affected by changes in legislation or your individual circumstances.
  • Where you’ve indicated that new State pension is to be included in the figures, we’ll assume you qualify for the full single person’s new State pension. For more information and to understand if you are eligible for the full amount, go to
  • We’ve assumed that you and your employer’s contributions will increase by 3.5% each year.
  • We’ve assumed that you take 25% of your plan as a tax-free cash sum.
  • Your projected monthly income is taxable and is based on the remaining fund after the tax-free cash sum is paid.
  • We’ve assumed that your projected monthly income is paid in monthly instalments at the start of each month for the rest of your life and increases at 2% every year, with a 50% spouse’s pension if selected.

Our other retirement planning tools 

Speak to a financial adviser

We recommend that you speak to a financial adviser before making any changes to your plan. 

There are a number of directories that you can use to search for one in your area and according to their specialisms.