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Pension Calculator

See what your workplace pension could grow to by retirement, with tax relief, your employer’s contributions and your tax-free lump sum.

£
£
%

Including tax relief

%
More options· 5% growth, 3% pay rises
%

A year, after fees

%

A year

%

A year

For your Income Tax rates

At 67 you could have

£445,389

You putting in 5% and your employer 3%

In today’s money
£178,631
Tax-free lump sum (25%)
£111,347
Where it comes from
  • What you have now£20,000
  • You put in£76,111
  • Your employer adds£45,667
  • Investment growth£303,611

What this means

About 68% of it is investment growth, not money you put in. The earlier you start, the longer each contribution has to grow.

Your employer adds £45,667 over the years: extra pay you only get by saving yourself.

Prices will rise, so £445,389 in 37 years buys about what £178,631 buys today.

Next step

Year by year

AgeYouEmployerBalance
35£1,658£995£39,458
40£1,971£1,183£66,960
45£2,202£1,321£104,838
50£2,202£1,321£153,708
55£2,202£1,321£216,080
60£2,202£1,321£295,685
65£2,202£1,321£397,282
67£2,202£1,321£445,389

This year (2026/27)

You put in£1,438
Tax relief on it£288
So it costs you£1,150
Your employer adds£863

On top of this, the full new State Pension is £241.30 a week (£12,548 a year) in 2026/27.

Assumptions in this estimate
  • Auto-enrolment minimums are 5% from you (including tax relief) and 3% from your employer, on earnings between £6,240 and £50,270. These limits stay at today’s levels.
  • Tax relief is at your top rate of Income Tax, and at least the 20% basic rate, even if you earn too little to pay tax. With relief at source, basic-rate relief is added automatically and higher-rate taxpayers claim the rest through Self Assessment.
  • Growth is after fees. Your pay rises by 3% a year, and “in today’s money” takes off 2.5% inflation a year.
  • You can usually take 25% tax-free, up to £268,275 in total. The minimum age to take a pension rises from 55 to 57 in April 2028.
  • Salary sacrifice also saves National Insurance, which isn’t included here.
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How the calculator works

  1. Contributions: a share of your pay from you (including tax relief) and from your employer, worked out on qualifying earnings or your whole salary.
  2. Tax relief: what your contribution really costs you, after relief at your top rate.
  3. Growth: your pot grows at the rate you choose, after fees, and your pay rises each year.

What paying more adds

Starting at 30 on £35,000 with £20,000 saved:

Contributions At 67 In today’s money
Minimums: 5% + 3% of qualifying earnings £445,000 £179,000
8% + 5% of your whole salary £842,000 £338,000

Growth of 5% a year after fees, 3% pay rises and 2.5% inflation.

Last updated

Frequently asked questions

How much will my pension be worth?

Starting at 30 on £35,000 with £20,000 saved, paying the auto-enrolment minimums with 5% growth and 3% pay rises, you’d have about £445,000 at 67. That’s about £179,000 in today’s money.

What are the auto-enrolment minimums?

8% of your qualifying earnings (£6,240 to £50,270 in 2026/27): at least 3% from your employer, and the rest from you, including tax relief.

How does tax relief work?

Your contributions get relief at your top rate of Income Tax. On £35,000, putting £1,438 into your pension costs you about £1,150.

How much can I take tax-free?

Usually 25% of your pension, up to £268,275 in total across all your pensions.

How much is the State Pension?

The full new State Pension is £241.30 a week (£12,548 a year) in 2026/27. You usually need 35 qualifying years of National Insurance for the full amount.

How much can I pay in each year?

Up to £60,000 a year with tax relief (the annual allowance), or your earnings if they’re lower. Very high earners have a lower allowance.