Overview
This pension calculator projects how big your pension pot could grow by retirement. Enter your current pot, your monthly contribution, your employer's contribution, an expected annual growth rate and the years until you retire. We'll show your projected pot, splitting out how much you and your employer pay in versus how much comes from investment growth, with a chart of how it builds over time. It's a helpful way to see whether you're on track — and how powerful employer contributions and a few extra years of growth can be.
How it's calculated
Your pot grows in two ways: the contributions you and your employer add each month, and the investment growth on the money already invested. We project it month by month:
- Apply expected growth to the current pot.
- Add your contribution plus your employer's contribution.
- Repeat every month until retirement.
Total paid in is your starting pot plus all contributions; everything above that is investment growth.
Pot = current pot grown at r, plus monthly (you + employer) contributions compounded to retirement
This is a nominal projection at a steady growth rate. Real returns vary year to year, and inflation reduces what the final pot will buy.
Worked example
Take a £20,000 pot, paying in £300/month with £150/month from your employer, growing at 5% for 25 years:
| Current pot | £20,000 | |
|---|---|---|
| Monthly in (you + employer) | £450 | |
| Total paid in | £155,000 | over 25 years |
| Investment growth | ≈ £182,600 | |
| Projected pot | ≈ £337,600 |
You'd pay in £155,000 but retire with around £337,600 — more than half of it from growth. Note this is before inflation and excludes your State Pension.
Current rates & key facts
UK pension key facts (2026/27)
| Item | Detail |
|---|---|
| Annual allowance | £60,000 — the most you can usually pay in each year with tax relief |
| Tax relief | Personal contributions get relief at your marginal rate (20%/40%/45%) |
| Minimum pension access age | Normally 55, rising to 57 from April 2028 |
| State Pension | Paid separately on top of your private pension — check your forecast |
Projections are illustrative, not guaranteed. Investments can fall as well as rise, and inflation reduces future spending power. Consider regulated advice for retirement planning.
Last updated 28 June 2026 · Source: GOV.UK — Tax on your private pension contributions