Pensions are confusing aren’t they?! So many factors influence the eventual value of your pension and due to the long period of time over which you accumulate the fund, even small changes make big differences.
This is the reason why we put together a full featured pension calculator. Using this calculator you can create a full pension plan, with charts and a pension statement.
The calculator will take into account management charges, inflation, growth, existing pension balances, annuities and more.
What’s better is that you can work in two different modes:
- Calculate how much your pension will be worth – You enter the amounts you and/or your employer contribute, adjust the options and a full plan is produced.
- Calculate how much you need to contribute to reach a target retirement income – You may have a target income you want to receive in retirement, as well as an optional tax free lump sum you want to take upon retiring. All you know need to do is plug these figures into the calculator, adjust your options, and the calculator will work out what the regular monthly payment you need make will be (it is assumed you will increase this payment by inflation each year).
Try the Pension Calculator now – if you haven’t started investing for your future, have a look to see how your timing will effect the retirement income you can build.