Target funding for retirement and cost of delay calculator

Start planning your retirement now. Whether you plan to take early or late retirement, you can decide how much you need to save for your retirement and check your required monthly contributions with this simple tool. Many people buy annuities with their pension fund, others prefer to take drawdowns on a regular bases. There is a general rule of thumb to draw 4% of your retirement fund every year. See how much you need and the cost of delaying for each of the next 10 years right here with our simple retirement calculator.

1. Calculate your target retirement income

Current ageInsert
Retirement ageAdjust
Yearly earnings£ Insert
Target retirement income% Adjust
Target retirement income £ 0.00

2. Calculate the required monthly contributions

Assumed rate of return% Adjust
Current monthly contributions£ Insert
Current fund value£ Insert
Projected fund value£ 0.00
Income rate post retirement% Adjust
Projected retirement income (based on current contributions)£ 0.00
Income required at retirement (shortfall)£ 0.00
Fund required at retirement (shortfall)£ 0.00
Additional monthly contributions required (shortfall)£ 0.00
Funding rate% 0.00
Total monthly contributions (starting now)£ 0.00

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Please note that this is not a substitute for full financial planning advice, which you should always take before implementing any transactions. The calculator does not constitute a quote an whilst it uses reasonable assumptions, it should be noted that these are not an indication of future investment returns which could be greater or less than the rates assumed.