About you and your payments
To help you see what your pension could be worth, we'll show you a range of possible amounts
based on the information you give us and a few assumptions. Our estimates about your returns
aren't guaranteed, but we hope they help.
You can choose to invest with a one-off payment, regular monthly payment, transfer/s from existing pension/s, or a combination of these.
Remember, our estimates about your future returns aren't guaranteed. These forecasts are not a reliable indicator of future performance but we hope they help. The value of investments can go up and down, so you may get back less money than you put in. Tax depends on your individual circumstances and the regulations may change in the future.
More about our assumptionsClose Modal
What you'll pay in
We assume you’ll keep making the same monthly payments until you start to enjoy the benefits of your pension.
Tax relief on your payments
We assume that basic rate tax relief will be added to your pension for all regular and one-off payments you make up to the age of 75. If you have told us that you want to make payments after age 75 then we haven’t added tax relief to those.
We assume the rate of tax relief will stay at the same level as it is today.
You may be able to claim more tax relief but it won’t be automatically added to your pension.
To keep things simple, we don’t limit the payments you’ll make (or tax relief you’ll receive) for HMRC Annual Allowance limits. But it’s really important you know that limits might apply and these could change in the future. To check details go to gov.uk Link opens in a new window.
Imagining the future
We consider past performance when estimating possible outcomes for your pension based on how much you invest, for how long and how the market might perform. However, past performance isn’t a reliable guide to future performance - investments can go up or down.
To work out this estimate we do lots of calculations behind the scenes. To keep it reasonable, we ignore both the highest and lowest 5% of results when we show you the estimated value rangeWhat your pension pot could be worth.
We show what your pension pot and annual income might be worth in today's money, after allowing for inflation. We consider lots of possibilities for inflation, rather than a single fixed % because the rate of inflation can rise and fall over time. Inflation reduces the value of what you can buy in the future as well as the value of your savings.
Deducting our charges
We have two charges, totalling up to 0.75% each year: an Account Charge (for managing your account) of 0.30% and an Annual Management Charge (for managing your investments) of 0.40% or 0.45%, depending on the fund(s) your pension invests in. Your estimate includes the relevant charges for your pension fund choice, and we’ve assumed they’ll stay the same for the time you’re investing with us.
When you access your pension benefits
At the moment, you can choose to take pension benefits from age 55. From April 2028 this will rise to 57.
Your estimated annual income assumes that after taking 25% tax-free cash, you use the rest of your pension pot to buy a guaranteed income for life (also called an annuity) which will provide you with a steady income for the rest of your life (or will pay out for five years if less). There's no income payable to your spouse or civil partner if you die (except in the first five years).
Although the estimate uses a guaranteed income for life, you should be aware that other options are available when accessing income from your pension. If you are unsure about the type of income to take from your pension you should consider taking financial advice.
We assume that your income remains at the same, fixed level for the rest of your life – that means it'd buy less over time if prices rise.
We show you the income before tax, but you should bear in mind that any income would be potentially subject to income tax.
Rounding things off
Finally, we round our estimates down a bit, just to make the numbers a bit easier to read — remember they’re only a guide.
So that’s how we work out your estimate.
Remember, these are only indications. What you get back will depend on how the funds perform, if you make changes to the length of time you’re investing, and if you change the amount you put in.
Advice for over 50s
Transferring your pension when you're over 50 has its pros and cons. To make sure you go into it eyes open, you're encouraged to get specialist guidance or 'regulated advice' first.
Guidance is free, impartial and helps you narrow down your choices - but leaves the decision making to you. Its available from Pension Wise Link opens in a new window, a government-backed service from MoneyHelper.
Regulated advice is paid for, takes in your personal circumstances and makes specific recommendations. For this, you'll need a financial adviser approved to give pension advice - find a local one at unbiased.co.uk Link opens in a new window.
If you're transferring this pension with a view to taking money out soon after, we'll ask you to confirm you've had guidance or advice before the transfer can be completed. So, if that's the case, book your appointment with Pension Wise or a financial adviser today.
Prefer to let someone else do the driving?
Switch to our Navigator pension, it’s like satnav for your retirement journey.Explore Navigator