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🇬🇧 United Kingdom / Pension
Calculate UK State Pension entitlement, workplace pension growth, and SIPP projections. Covers 2024/25 annual allowance, auto-enrolment, and LTA abolition.
10 calculators
Calculate your pension annual allowance and whether you face an excess charge. Check if you can carry forward unused allowance from the past three years to make larger contributions.
Estimate the annual and monthly income your pension pot will buy as a UK annuity. Compare level, escalating, and joint-life annuity rates from leading UK insurance providers.
Calculate whether your total pension savings exceed or approach the Lifetime Allowance threshold. Understand the tax charge on pension savings above the LTA.
Calculate your projected pension pot at retirement. Model employer and employee contributions, investment growth, and years to retirement to forecast your UK pension income.
Calculate how long your pension pot lasts in drawdown. Model withdrawal amounts, investment returns, and inflation to plan sustainable income through UK retirement.
Calculate the tax relief you receive on UK pension contributions. See the difference between basic, higher, and additional rate relief and how to claim higher-rate relief via self-assessment.
Project the growth of a UK private pension including employer contributions, personal contributions, and investment returns over your remaining working years to retirement.
Calculate contributions, tax relief, and projected value of a Self-Invested Personal Pension. Model SIPP growth at different investment rates with full control over asset allocation.
Estimate your UK State Pension based on qualifying years of National Insurance contributions. See how many more years you need and whether voluntary NI top-ups are worth it.
Calculate your workplace pension contributions, employer match, and projected pot under auto-enrolment. See total pension savings from your current employer contribution scheme.
The UK pension system is built on three pillars: the State Pension, workplace pensions, and personal pensions. Together these are designed to provide a foundation income in retirement, though the adequacy varies by individual circumstances and contribution history.
The full new State Pension for 2024/25 is £11,502 per year, payable from age 66 (rising to 67 between 2026 and 2028). Receiving the full amount requires 35 qualifying years of National Insurance contributions or credits. Those with fewer than 10 qualifying years receive nothing. The State Pension is uprated annually by the triple lock, the highest of earnings growth, CPI inflation, or 2.5%, making it a valuable inflation-linked income stream.
Workplace pensions have been auto-enrolled for eligible workers earning above £10,000 per year since 2012. The minimum total contribution is 8% of qualifying earnings: at least 5% from the employee and 3% from the employer, though many employers offer more generous matching. Employee contributions attract tax relief at the marginal rate, making pensions a highly tax-efficient savings vehicle. For higher-rate taxpayers, a £1 contribution costs only 60p after relief.
Personal pensions, including Self-Invested Personal Pensions (SIPPs), allow individuals, including the self-employed, to invest pension contributions with full control over the underlying assets. The annual allowance for all pension contributions combined is £60,000 (or 100% of earnings if lower) for 2024/25. Those who have flexibly accessed a pension are subject to the Money Purchase Annual Allowance of £10,000. The Lifetime Allowance was abolished in April 2024, removing a barrier for high-net-worth pension savers.
Pension contributions can carry forward unused annual allowance from the previous three tax years, allowing large one-off contributions for those who have had variable income or irregular saving patterns. The Pension Commencement Lump Sum, the 25% tax-free cash available at drawdown, is now capped at £268,275 (25% of the former Lifetime Allowance), even if the pot is larger. Couples should review spousal pension entitlements and assess pension splitting as part of inheritance tax planning.