UK Pension Calculator
Updated on 22 Oct 2026 for the 2026-27 tax year · Checked by Aotob
Paying 8% of £45,000 until 67, your pension pot could reach £384,844 in today’s money.
Take £96,211 tax-free and draw 4% of the rest: about £11,545 a year, £24,093 with the full new State Pension.
Pension pot at 67
£384,844
Your £2,250 costs you £1,800 after tax relief, and your employer adds £1,350: £3,600 a year goes in.
Show the working
Yearly in = 2,250 you + 1,350 employer = 3,600
Tax relief = tax on 45,000 − tax on 42,750 = 450
Grows at 4% after inflation for 37 years = 384,844
Your pension pot
Year by year
| Year | Age | Paid in | Pot |
|---|---|---|---|
| 5 | 35 | 38,000 | 44,187 |
| 10 | 40 | 56,000 | 73,614 |
| 15 | 45 | 74,000 | 109,416 |
| 20 | 50 | 92,000 | 152,975 |
| 25 | 55 | 110,000 | 205,971 |
| 30 | 60 | 128,000 | 270,449 |
| 35 | 65 | 146,000 | 348,896 |
| 37 | 67 | 153,200 | 384,844 |
Questions people ask
How much tax relief do I get?
Relief at your highest rate of income tax: 20%, 40% or 45% (19% to 48% in Scotland). This calculator works it out from your salary. Under salary sacrifice you also save National Insurance.
How much of my pension can I take tax-free?
Usually 25%, up to a lifetime lump sum allowance of £268,275. The rest is taxed as income when you draw it.
How much is the State Pension?
The full new State Pension is £241.30 a week (£12,547.60 a year) for 2026-27, with 35 qualifying years of National Insurance. Check your forecast on GOV.UK.
When can I take my pension?
From 55 now, rising to 57 from April 2028. The State Pension age is 66, rising to 67 between 2026 and 2028.
Updated 22 Oct 2026Tax year 2026-27Source: HMRC: Tax on your private pensionChecked by AotobReturn after inflation, so figures are in today’s money. Income assumes drawing 4% a year after the lump sum.Report an issue