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Initial Details

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Select the additional functionality you require:

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Funding Your Retirement

Please indicate what forms of retirement provision you currently have:

You
Your Partner
Pension Fund(s)
Final Salary Pension
ISA
Other Income

Please provide the fund value and future monthly contributions to your pension. If you have multiple funds, please provide a combined value.

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Premium members have access to the Early Retirement Calculator at the bottom of this page. This enables you to experiment with taking your pension early. You can even enter the specfic early retirement factors that apply to your pension scheme.

This calculator will assume you are using a Stocks & Shares ISA to fund your retirement. If you are using a Cash ISA, please tick this box.

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Your Desired Retirement Income

How much income do you need in retirement? The widely recognised Retirement Living Standards website helps answer this difficult question by defining three standards of living and quantifying the level of income you would require for each one.

Select a standard of living to aim for in retirement:

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You can fine-tune this income requirement using the Retirement Budget Calculator which specifies your expected retirement expenses at category level, using the same categories as the retirement living standards research.

Go To Budget Calculator

Results

What You Can Afford
What You Need
Shortfall At Retirement

Select a growth scenario below:

The next step is to visit the Dashboard page to get further insights. Please first login or register for free to gain access.

Disclaimer: These results are for information purposes only and do not constitute financial advice.

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Assumptions

A premium subscription is required to change the assumptions used in the calculations, apart from the projection end age which you can change for free. They can also be altered in the Dashboard page (for larger screens).

The projection end age is the age at which all your funds will be used up in calculating an affordable income from retirement. The Financial Conduct Authority (FCA) specifies that a projection end age of 99 should be used for drawdown pension projections. You can change the value below to suit your personal circumstances.

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Find out what the average life expectancy is for someone of your age and gender using the calculator proivded by the Office of National Statistics.

It's important to use realistic growth assumptions that align with your investment strategy and risk tolerance. Consult the Learn page for guidance on suitable assumptions. Or use the default values provided which reflect a balanced pension portfolio.

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The default assumptions for an ISA are more conservative than a pension fund. However, if your are using ISAs as a dedicated retirement provision and invested in similar assets, it would be appropriate to align your ISA assumptions with your pension assumptions.

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A reasonable assumption for long-term inflation in the UK is typically around 2-3% per year. This range reflects historical averages and aligns with the Bank of England’s target rate of 2%.

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