The Moneyfarm Pension Calculator

Discover how much you should be saving for retirement with our pension calculator.

About you


Your current situation

 
£
 
£
 

 

£
 
£
 

Your goal

 
£
 
Include state pension
 

Results:


Your pension

Retiring at 65 with your current monthly contribution of £200, your annual income will be £26,906 off your target.



Retirement income (annual):

Current:

£23,094

Target:

£50,000


Retirement pot:

Current:

£439,159

Target:

£1,263,886

Your contribution

By increasing your current monthly contribution and transferring your pension to Moneyfarm you'll be able to achieve your target retirement income.



Current monthly contribution of£200

A new monthly contribution of£684


Ideal monthly contribution of

£884

Your options

  • Lower your target income

  • Delay your retirement

Or, let Moneyfarm help you:


  • Open a pension plan of £684 to increase your contribution

  • Transfer your current pension to Moneyfarm and increase your contribution by £684

Reach your target with us
How we calculated these figures

All figures take account of inflation and show the buying power of your pension in today's money. Please see how to read these results below. If you have any questions, contact our Investment Consultants on 0800 433 4574 or email hello@moneyfarm.com. Find out more about your tax relief and pension allowances.

The figures here take account of inflation at 2% and show the buying power of your pension in today's money. If you have any questions, contact our Investment Consultants on 0800 433 4574 or email hello@moneyfarm.com. Find out more about your tax relief and pension allowance. This calculator aims to give you an indication of how much you may need to contribute to a pension to achieve your desired retirement income.The calculator should not be regarded as personal advice, nor is this a reliable indicator of future performance. One consensus is that you should aim for two - thirds of your final salary to maintain your current standard of living when retired.

This calculation assumes that your investments will grow by an annualised 5% during the accumulation phase - before your desired retirement age.Once retired, your investments will grow by an annualised 3%. The lifetime allowance is currently £ 1,055,000; if your pension exceeds the lifetime allowance you may be subject to additional charges from the Government.We assume you will receive the full single - tier state pension of £8,767.20 a year during retirement and that you will live to the age of 83.

The figures here are a guide and are not guaranteed. Your final pension fund and the income available will depend on factors including the growth your fund achieves, contributions you make in the future, charges, inflation, your retirement age, annuity rates at the time and the annuity options you choose.

As with all investing, your capital is at risk.

How the Moneyfarm Pension can help you

How the Moneyfarm Pension can help you

The Moneyfarm Pension is designed to give you financial security through retirement. We match you to a low-cost and transparent investment portfolio that’s specifically built and managed by a team of experts to reflect your investor profile. This is regularly rebalanced to make sure you’re on track to reach your retirement goals.

It’s important that we get to know about you, what you’re saving for and your financial background. Then we can build you an investor profile that acts a bit like your investor DNA, outlining the best way for you to invest to reach your goals.

We do the hard work for you, all you need to do is fill in a questionnaire and decide how much you want to invest and when. This leaves you free to focus on the now, whilst we work to protect and grow your money for the future.

Learn more about our Pension

Why choose Moneyfarm’s Pension Drawdown Service?

Personalised

Match with a portfolio that’s specifically built and managed for your investor profile

Made and managed for you

Our team of experts manage your pension for you to ensure you’re on track to reach your goals

Target date

The investments in your pension will adjust as you get older, for free

Generous tax benefits

Supplement your pension contribution with generous tax benefits

Hassle-free

The hardest decision you have to make is when and how much you can invest in your pension

Low cost

Don’t let expensive fees eat into your retirement income – keep more of your money for the important stuff

Transfer for free

Manage all your pension savings in one place to make sure you’re on the right track to reach your goals

Transparent

Know what you’re invested in, how your pension is performing and how much you’re paying anywhere and any time

Income drawdown

For flexibility in retirement, withdraw at any time, without any additional fees

Transfer your pension today

Transfer your pension today

With the average Brit working 11 jobs in their career, it can be difficult keeping on top of your pension. If you don’t know exactly what you’ve got, you don’t have the reassurance of knowing you’re on track to reach your goals.

Make your life easier by consolidating all of your old pensions into one place. Transfer your existing pensions to Moneyfarm and we’ll manage your investments on your behalf for a low-cost. We’ll never charge you a fee to transfer in or away from Moneyfarm, although your existing provider may have some transfer out charges.

All you need to do is sign-up to Moneyfarm and select the Pension account. We’ll send you a pension transfer form, which you need to print out, fill in and return to the address stated.

Depending on your existing pension provider there may be a little more paperwork to do, but we’ll be in touch if this is the case.

We’ll do the rest for you, talking to your existing provider and moving your pension over to your Moneyfarm account. This should take three-four weeks, although this depends on your provider.

Transfer a pension

FAQs

What should my pension target be?

The aim of this calculator is to give you an indication of how much you need to contribute to a pension and what you might get as a retirement income. You should aim to provide yourself with an income during retirement that’s worth 60% of your final salary. The calculator should not be regarded as personal advice.

If I follow the suggestions, will I reach my goal?

The figures are a guide and not guaranteed. Your final pension fund and the income available will depend on factors including the growth your fund achieves, contributions you make in future, charges, inflation, your retirement age, annuity rates at the time and the annuity options you choose.

What does the Moneyfarm Pension Calculation consider?

All figures take account of inflation and show the buying power of your pension in today’s money. This calculation assumes your salary will grow by 3% a year and that your investments will grow by an annualised 4%.This calculation assumes you will receive a state pension of £8,546.20 a year during retirement and that you will live to the age of 83.

If I follow the suggestions, will I reach my goal?

You can find out all about the Moneyfarm Pension on our website, or by getting in touch with one of our investment consultants, who are happy to talk you through any part of your pension. If you’re unsure, you can contact the government’s free pensions advisory service for information or guidance on your pension.

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