SIPP calculator

The calculation only gives an estimate of what your income could be in retirement.  

There have been many assumptions made to help give a total pension value and annual income that is as meaningful as possible, but the values cannot be relied upon.  

The calculator makes a projection into the future and assumes the following:  

• Your current pension and any future monthly contributions you make will be invested and grow each year by the growth rate that you select. Inflation will also increase by 2% each year.  Please note that the investment growth rate could be higher or lower than the chosen value, and this could make a big difference to your eventual pot size.
• Future monthly contributions include gross personal, gross employee and gross employer contributions and the level of these contributions will increase by 2% each year.   
• An ii Investor Service Plan and ii SIPP fee is charged each month.  
• The pension is invested equally in both funds and shares. Fund investments have an Ongoing Charge Figure (OCF) of 0.22% applied.  
• The possible income is a gross annual amount and does not include the State Pension.  
• The level of income is based on drawing benefits from your pension pot at rates of 3.00% per annum if you retire before age 60, 3.25% per annum before age 65 and 3.50% per annum if you retire at age 65 or older. The actual withdrawal rate that you may be able to use in retirement could be very different and will depend on many different factors.

It is tough estimating how much you will need in the future. With retirement being such an important lifestyle change, it is not a question we can ignore.

You may not need to sustain your current monthly income, especially if you expect to be mortgage-free in retirement. But you will need to think about the kind of lifestyle you want.

Think about big expenses such as buying a new car, helping children or grandchildren through education, or where and how often you might go on holiday.

Once you know how much you want in retirement, our calculator can help you decide whether you need to make some changes.

To increase your retirement income, you can save more before you retire, or delay the date you want to start taking your pension.

Consolidating your pensions, or switching to a lower-cost provider could also make a big difference. The sooner you do this, the more you will save over time.

Our low-cost SIPP could give you over £20,000 more in retirement over 30 years, compared with pensions that charge a percentage*.