Retirement Savings Calculator
Project your pension pot at retirement and find out whether your savings will cover your target income. We use a 4% drawdown rate as a common benchmark — this means withdrawing 4% of your pot per year. Enter your details below to see your projected pot, any shortfall or surplus, and the monthly contribution needed to hit your target.
How the retirement savings calculator works
Retirement planning requires projecting decades into the future with genuine uncertainty around investment returns, inflation, and how long your money needs to last. This calculator projects your pension pot at retirement based on your current savings, monthly contributions, and an assumed annual growth rate.
To estimate how much pot you need, we apply the 4% safe withdrawal rate — a rule of thumb from the Trinity Study suggesting you can withdraw 4% of your portfolio each year with a low probability of running out of money over 30 years. A £500,000 pot, for example, supports roughly £20,000 per year under this rule.
In the UK, the full new State Pension (approximately £11,502 for 2024/25) provides a useful foundation, reducing how much your personal pot needs to generate. Beyond the State Pension, pension drawdown, annuities, and ISAs are all valid ways to structure retirement income — each with different trade-offs around flexibility, guaranteed income, and investment risk.
Frequently asked questions
How much do I need to retire in the UK?
A common benchmark is 25 times your desired annual income, based on the 4% withdrawal rule. For £25,000 per year you would need approximately £625,000. The State Pension (around £11,500 per year) can reduce how much your personal pot needs to provide.
What is the State Pension and how much is it?
The full new State Pension is approximately £11,502 per year (2024/25) for those with 35 qualifying National Insurance years. You need at least 10 qualifying years to receive any State Pension.
What is the 4% rule?
The 4% rule is a guideline suggesting you can withdraw 4% of your retirement portfolio each year with a high probability of the money lasting 30 years. It originated from US research known as the Trinity Study. It should be treated as a rule of thumb rather than a guarantee.
Should I take an annuity or drawdown?
An annuity provides guaranteed income for life but is inflexible once purchased. Drawdown keeps your money invested with more flexibility but carries both investment risk and longevity risk. Many retirees use a combination of both. Take regulated financial advice before deciding.