Retirement calculator UK

See how much you need to save to meet your goals with our retirement calculator

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Form filling should take less than 5 minutes
Understand your situation
Refine scenarios that test your retirement plan
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Get on the right track to meet your retirement goals

Frequently Asked Questions

What assumptions does the Varbes retirement calculator make

The Varbes Retirement Calculator uses your current pensions, savings, and a pension contributions to run different scenarios you could face during retirement to see if you have enough to meet your desired income.

The following assumptions are used to calculate scenario outcomes:

  • Between your current age and retirement we assume inflation runs at 2% and investments earn 5%.
  • 2% inflation was chosen as this is the UK government’s published long-term target rate, and 5% is a conservative long term returns figure for pensions, based on historic averages.
  • The investment rate of 5% is higher than the midpoint investment rate on the results page because typically the returns are higher during your younger years, as pension providers can invest more aggressively, with a long-term investment horizon.
  • Assumes Savings are used before pension pots
  • Assumes the first 25% of pension pot drawdown is tax free
  • Assumes both primary and any partners are both alive for the duration of the scenario life expectancy
  • Assumes surplus is added to Savings, and any shortfall is carried forward into later years – if you have a shortfall in some years that is rectified in the future, you will need to reduce your spending at the start.
  • Assumes tax bands and state pensions increase with inflation