MoneyHelper is impartial and backed by the Government. Their pensions calculator is a useful tool which can help you understand your future pension income. It's also a good way to see how much saving even modest amounts in a personal pension could add up to over time.
Using the MoneyHelper pension calculator
The calculator will ask you about your current standard of living; existing pension savings (e.g. a workplace pension); and then it will show you how much you are likely to receive in retirement.
You can then adjust how much you'd like to save in a Personal Pension and see how much extra retirement income this gives you.
The calculator makes a number of assumptions about the future, you can view these with the results of your calculation.
The calculator assumes you will buy an annunity (a guaranteed retirement income) but because of changes to Pension regulations you now have more flexibility on how you spend your pension e.g. you can withdraw lump sums, leave it invested or mix and match options.