This projects the value of your pension at retirement based on what you have now, what you pay in each month, and an assumed annual growth rate. Real pensions are invested, so returns go up and down and are never guaranteed — this is a planning guide, not a promise. Employer contributions and tax relief can boost the real figure.
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Frequently asked questions
What growth rate should I assume?
Many projections use 4 to 6 percent a year before inflation for a mixed portfolio, but this is only an assumption — actual returns vary and can be negative in some years.
Does this include tax relief?
No. Pension contributions usually attract tax relief, and many employers add contributions too, so your real pot could grow faster than this simple projection shows.