For these calculations we've made some initial assumptions about your net investment growth, charges and life expectancy.
They aren’t based on your individual circumstances, so results shouldn’t be taken as personal advice.
You can customise these assumptions to better reflect your own circumstances by editing your details. Making decisions based on unrealistic assumptions will increase the risk of running out of money.
Results don’t take into account the effects of inflation, which can reduce the buying power of your income.
Investment growth and charges
The default settings assume your fund is fully invested with an annual growth rate of 5%, and annual charges of 1% (i.e.
4% growth rate after charges). 5% is the mid-growth rate suggested by the FCA for pension illustrations.
Summary of your pension pot options
1% is a typical investment charge. It’s important to remember that your investments can fall and rise in value (rather than grow by a steady percentage each year as shown in this calculator), and you can hold cash if you want to (perhaps to fund planned withdrawals without needing to sell investments).
The default settings assume life expectancy based on age, gender and date of birth according to average national statistics.
You may live for a shorter or longer time, depending on your own circumstances. Life expectancy source: 2016-based UK Cohort Expectation of Life, Office for National Statistics.
Chance of living to age 100 source: DWP Number of Future Centenarians by Age Group - April 2011.