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UK Pension Calculator
Calculate UK workplace and personal pension growth
Pension Details
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Total value of all pensions
$
%
After fees, typically 4-6%
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Current rates ~5-6%
Pension Projection
Enter your pension details
Project your retirement fund
UK Pension Guide
Workplace Pension (Auto-Enrolment)
- Minimum: 5% employee + 3% employer = 8% total
- Contributions taken before tax (net pay) or after (relief at source)
- Employer contribution is free money - always take it!
Tax Relief on Pensions
- Basic rate: £80 contribution = £100 in pension
- Higher rate: Claim extra 20% via tax return
- Additional rate: Claim extra 25% via tax return
- Annual allowance: £60,000 (or 100% of earnings if lower)
Accessing Your Pension
- Earliest access: Age 55 (rising to 57 in 2028)
- 25% tax-free lump sum
- Rest taxed as income when withdrawn
- No requirement to buy annuity
Retirement Income Options
- Annuity: Guaranteed income for life, no inheritance
- Drawdown: Flexible access, pot stays invested
- UFPLS: Take lump sums as needed
- Combination: Mix of the above
Lifetime Allowance (Abolished 2024)
The £1,073,100 lifetime allowance has been abolished from April 2024. However, tax-free lump sum is capped at £268,275 (unless you have protection).
Disclaimer: This calculator is for informational purposes only and should not be considered financial, tax, or legal advice. Results are estimates based on the information provided and current tax laws. Consult a qualified professional for advice specific to your situation.
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