Plan your UK retirement with workplace pension, SIPP, and State Pension projections.
A retirement calculator projects how much your pension pot will grow by retirement age and whether you're on track for a comfortable retirement.
The UK State Pension age is currently 66 and is rising to 67 by 2028 and 68 by 2046. The full new State Pension is £221.20 per week (£11,502.40 per year) for 2024/25. Check your State Pension forecast at gov.uk.
The UK State Pension age is currently 66 for both men and women. It is scheduled to rise to 67 between 2026 and 2028, and to 68 between 2044 and 2046. You can check your State Pension age at gov.uk/state-pension-age.
The full new State Pension is £221.20 per week (£11,502.40 per year) for 2024/25. You need 35 qualifying years of National Insurance contributions to receive the full amount. With 10-34 years you get a proportion; fewer than 10 years means you may not qualify.
When you access your pension (from age 55, rising to 57 in 2028), you can typically take 25% of your pension pot as a tax-free lump sum. The remaining 75% is subject to income tax when withdrawn, either as drawdown or annuity income.
Under auto-enrolment, minimum contributions are 8% of qualifying earnings (£6,240–£50,270 band), with the employer paying at least 3%. Many employers match contributions. You can also contribute to a SIPP (Self-Invested Personal Pension) with tax relief at your marginal rate, up to the annual allowance of £60,000.