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Retirement Planner (U.K.)

Do you know what it will take to create a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement.

Retirement Planner (U.K.) Definitions

Current age
Your current age.
Age of retirement
Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution occurs when you are actually 64. This calculator also assumes that you make your entire contribution at the end of each year.
Gross annual income
Your total household income. If you are married, this should include your spouse's income.
Current retirement savings
Total amount that you currently have saved toward your retirement. Include all sources of retirement savings except for your pension income.
Rate of return before retirement
The annual percent you expect to earn on your investments before you retire. The actual rate of return is largely dependent on the type of investments you select. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.
Rate of return during retirement
The annual percent you expect to earn on your investments after you retire. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return. The actual rate of return is largely dependent on the type of investments you select. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.
Percent of income to contribute
The percentage of your annual income you will save for your retirement goals.
Expected salary increase
Annual percent increase you expect in your household income.
Years of retirement income
Total number of years you expect to use your retirement income.
Percent of income at retirement
The percent of your working year's household income you think you will need to have in retirement. This amount is based on your income earned during the last year you will work. You can change this amount to be as low as 0% and as high as 150%.
Monthly Company Pension
This is your current monthly figure as provided by your employer on your pension statement. By checking the 'Monthly Company Pension adjusted for inflation' box, the inflation rate will automatically be applied. This means you do not have to estimate what your monthly pension will be at retirement.
Expected Rate of Inflation
What you expect for the average long term inflation rate.