How much pension pot do i need for £1500 per month

How much will my pension pot be worth at retirement?

The Which? pension calculator gives you an idea of how much your savings could be worth at retirement, as well as the annual income you could expect to get depending on how you choose to access your pension.

How much pension pot do i need for £2000 per month

We've assumed your savings grow by 6% a year, and you pay annual charges of 0.75% (workplace pension charges are capped at this level). The calculator also assumes an average rate of inflation of 2% a year.

To get a fuller picture of the income you could expect to get in retirement, you'll also need to factor in the state pension.

What are my pension options?

Before you retire, you'll need to consider how to turn your pension savings into an income to live on after you've stopped working.

You can take up to 25% of your pot tax-free from the age of 55 (rising to 57 in 2028), and then access the rest of the money using any combination of the following: 

Buy an annuity

An annuity lets you swap your pension savings for a guaranteed regular income that will last for the rest of your life.

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