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Pensions & RetirementPension2026/27 Tax Year

Pension Growth Calculator

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Enter values and calculate to see results.

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Disclaimer: Illustrative projection based on the figures and assumptions entered. Pension pot growth is not guaranteed, investment values can fall as well as rise, and statutory retirement rules or tax relief rates may change. For personal retirement planning, consult an FCA-regulated financial adviser or contact Pension Wise.

Projecting a pension pot

A pension pot grows from three things: what you pay in, what your employer pays in, and compounding on both. Charges quietly work in the other direction throughout.

Figures stated for the 2026/27 UK tax year. Content last checked against official sources on .

What this calculator does

  • Projects a pension pot forward from a starting balance and monthly contributions.
  • Includes employer contributions, which are usually the largest single source of growth early on.
  • Applies an annual charge, so the projection is net of costs rather than gross.
  • Flags where contributions approach the annual allowance.

How the calculation works

The projection compounds the existing pot forward at the growth rate you enter, and adds each month's contributions as they are made so that later contributions have less time to grow than earlier ones. Both your contribution and your employer's are included, which matters because for most people the employer contribution is free money that would be lost entirely by opting out. The annual charge is deducted from the growth each year rather than added to the return, which is the honest way round: a 0.5% charge against a 5% return does not leave 4.5% of growth compounding, it removes a share of a growing balance every year, so its cost rises as the pot rises. Over decades that is a substantial number. The calculator also watches total annual contributions against the £60,000 annual allowance, above which a tax charge applies.

The rule

Each month: pot = pot × (1 + net monthly rate) + monthly contributions, where the net rate is the growth rate less the annual charge.

Step by step

  1. Start from the current pot value.
  2. Compound it forward at the growth rate, net of the annual charge.
  3. Add your monthly contribution and your employer's each month.
  4. Repeat for every month until retirement.
  5. Compare total annual contributions against the annual allowance.

Worked example

Someone with £50,000 already saved, paying in £300 a month with £200 from their employer, twenty years from retirement, assuming 5% growth and a 0.5% annual charge.

What was entered

Inputs used in the worked example
Current pension pot£50,000
Your monthly contribution£300
Employer monthly contribution£200
Expected annual growth rate5%
Annual pension fee0.5%
Years until retirement20

The arithmetic

  1. Total contributions are £500 a month, or £6,000 a year — well below the £60,000 annual allowance.
  2. Over twenty years £120,000 is paid in, of which £48,000 comes from the employer.
  3. The starting £50,000 compounds alongside those contributions at 5% less the 0.5% charge.
  4. The projected pot is about £311,567.
  5. Of that, £170,000 is contributions and the starting balance; the remaining £141,567 is investment growth.

What the calculator returns

Results produced by the worked example
Projected pension pot£311,566.60
Total annual contributions£6,000.00

Key assumptions

  • Growth is steady at the rate entered, with no volatility.
  • Contributions continue unchanged for the whole period, with no pay rises, breaks or increases.
  • The annual charge is applied to the pot each year.
  • Figures are in nominal terms unless the growth rate you enter is already net of inflation.

Limitations

  • Real returns are not steady. A pot that averages 5% but arrives at it through good and bad years can end up in a materially different place, especially close to retirement.
  • Inflation is not applied. A £311,567 pot in twenty years will buy considerably less than £311,567 buys today.
  • Charges vary and are often layered — a platform fee, a fund charge and transaction costs — so one headline figure may understate the total.
  • The annual allowance can be tapered for high earners, and is replaced by a much lower money purchase allowance once a pension has been flexibly accessed.
  • This is a projection, not advice. Pension decisions are difficult to reverse and free impartial guidance is available.

Common questions

Why does a 0.5% charge matter so much?
Because it is charged on the whole pot every year, so its cash cost grows as the pot grows. Over twenty or thirty years the compounded effect of a small percentage is a large sum, and it is one of the few variables you can actually control.
Should I include my employer's contribution?
Yes. It is part of what lands in the pension, and for most people it is the single strongest argument against opting out — declining it is declining pay.
Is the projected pot in today's money?
Only if the growth rate you entered is a real rate, already net of inflation. If you entered a nominal rate such as 5%, the figure is in future pounds and will buy less than the same number today.
What happens if I go over the annual allowance?
Contributions above £60,000 in a year generally attract a tax charge that removes the relief. Unused allowance from the previous three years can sometimes be carried forward, and the allowance is lower for high earners and for anyone who has flexibly accessed a pension.

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Official sources

Every figure in this guide was checked against the sources below. Where a source could not confirm a figure, it is marked as requiring verification rather than presented as settled.