How it works
Enter your current age, planned retirement age, current pension savings, monthly contribution and an assumed annual return. We compound it in your browser and show the projected pot. We add basic-rate (20%) tax relief to contributions as a guide.
In detail
This projector estimates how large your pension pot could be at your retirement age, combining your existing savings, future monthly contributions and investment growth.
Tax relief on contributions
UK pension contributions generally attract tax relief at your marginal rate. For a basic-rate taxpayer, a £80 net contribution becomes £100 in the pension (20% relief). Higher and additional-rate taxpayers can claim more via self-assessment. This calculator adds 20% relief to your entered contribution as a guide.
The maths
Each year the pot grows by the assumed return, and your (relief-boosted) monthly contributions are added and compounded until retirement age.
- The annual return is an assumption, not a guarantee — real investments fluctuate.
- The annual allowance (£60,000 for most in 2026/27, tapered for high earners) caps tax-relieved contributions.
This is an illustration only, not financial advice. The authoritative source is GOV.UK — Pension tax relief. Consider speaking to a regulated financial adviser.
FAQ
How does pension tax relief work?
Relief is given at your marginal rate. A basic-rate taxpayer gets 20% relief, so £80 net becomes £100 in the pension.
What return should I assume?
It is only an assumption. Historically diversified investments have returned low-to-mid single digits after inflation over the long run, but returns vary and can fall.
Is there a limit on contributions?
Most people can get tax relief on contributions up to £60,000 per year (2026/27), tapered for very high earners. The calculator does not enforce this limit.