Inputs

50
50

65
65

The calculator assumes that you and your partner retire at the same time.

Select a standard of living:

0
0

0
0

0
65

0
0

0
75

0
0

£0
65

0
0

0
75

If your partner wishes to take a tax-free lump sum out of their fund at retirement, please enter the percentage of their fund they would like to withdraw.

0%

Dashboard

FIRST YEAR INCOME
ASSUMPTIONS
7%
3%
1%

Disclaimer: This calculation is for information purposes only and does not constitute financial advice. The calculations and projections offered by this tool are based on user-provided inputs and general assumptions, which may not reflect your specific circumstances or needs. The results should not be relied upon as a sole basis for financial decisions. For financial advice, please consult a qualified financial adviser.

Assumptions

95

7%
5%
2.5%

2.5%

1%
1%

Scenarios

60
0%

Options

You may wish to increase your pension contributions in the future, for example after paying off a mortgage.

55
£0

You may wish to increase your ISA contributions in the future, for example after receiving a pay rise or finishing other financial commitments.

55

The amount to increase by should be specified in today's money terms.

If the results tell you that your affordable retirement income is less than you need, this feature provides another way you can increase your initial income.

By setting income reductions in the laters years of your retirement, you can see how this frees up funds to allow a higher income in the early years.

60
0%
65
0%

You may wish to maintain a minimum balance cushion in your ISA throughout your retirement.

£10,000

Select an age to start receiving income early from your defined benefit pension.

65
Defined Benefit Pension Amount

The early retirement reduction factors can be adjusted to reflect your scheme's rules in the assumptions section at the end of the Inputs page.

Using ISA withdrawals to avoid paying higher rate tax can reduce your overall future tax bill. Use the slider below to set the percentage of the basic rate band to fill up with payments from your pension fund.

50

Note that once your pension fund or ISA runs out, all income will automatically flow from the other fund.

Lock in guaranteed income by converting some (or all) of your pension fund into an annuity.

65
0%

You partner may wish to maintain a minimum balance cushion in their ISA throughout retirement.

£10,000

55
£0

You may wish for your partner to increase their ISA contributions in the future, for example after settling other financial commitments.

55

The amount to increase by should be specified in today's money terms.

£0

Select an age to start receiving income early from your defined benefit pension.

65
Defined Benefit Pension Amount

The early retirement reduction factors can be adjusted to reflect your scheme's rules in the assumptions section at the end of the Inputs page.

Using ISA withdrawals to avoid paying higher rate tax can reduce your partner's overall future tax bill. Use the slider below to set the percentage of the basic rate band to fill up with payments from your partner's pension fund.

50

Lock in guaranteed income for your partner by converting some (or all) of their pension fund into an annuity.

65
0%