Workplace Pension Calculator
Estimate your workplace pension contributions, employer match and projected pension pot based on salary, contribution rates and years to retirement.
Overview
Use this workplace pension calculator to estimate how much you and your employer may contribute each year and how your pension pot could grow by retirement. Enter your annual salary, contribution rates, current pension balance, expected growth rate and years to retirement to see a simple long-term projection.
How it works
The calculator works out your annual employee and employer pension contributions as percentages of your salary, then adds them together. It projects your current pension pot forward using compound growth and estimates the future value of ongoing yearly contributions using a standard future value of contributions approach. The final result combines both parts to show an estimated pension pot at retirement.
How to use this calculator
- 1Enter your gross annual salary.
- 2Add your employee contribution rate.
- 3Add your employer contribution rate.
- 4Enter your current pension pot value.
- 5Set an assumed annual growth rate.
- 6Enter the number of years until retirement and review the projected pension pot.
Example Calculation
Annual salary
$50,000
Employee contribution rate
5%
Employer contribution rate
3%
Current pension pot
$20,000
Annual growth rate
5%
Years to retirement
25
Projected pension pot
$258,635
With a $50,000 salary, 5% employee contributions, 3% employer contributions, a current pension pot of $20,000, 5% annual growth and 25 years to retirement, the total annual contribution is about $4,000 and the projected pension pot is about $286,000.
Frequently asked questions
What does this workplace pension calculator estimate?
It estimates your yearly pension contributions from you and your employer, then projects how your pension pot could grow by retirement.
Does this calculator include employer pension contributions?
Yes. You can enter a separate employer contribution rate so the estimate includes both your own and your employer's payments.
Does the calculator include investment growth?
Yes. It applies the annual growth rate you enter to your current pension pot and future contributions over the selected period.
Are fees, inflation and salary increases included?
No. This version keeps the estimate simple and does not automatically adjust for pension charges, inflation or future pay rises.
Can I use this calculator for any workplace pension scheme?
You can use it for a general estimate, but actual results depend on your scheme rules, contribution basis, charges and investment performance.
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Assumptions and warnings
Assumptions
- Contributions are assumed to stay the same as a percentage of your current salary over the full period.
- Investment growth is assumed to be a constant annual rate and is compounded yearly.
- This estimate does not include pension fees, inflation, tax relief differences or changes in salary.
- Results are general estimates and actual pension outcomes will vary.
Warnings
- This calculator provides an estimate only and is not financial advice.
- Investment returns are not guaranteed and actual pension values may be higher or lower.
- Check your pension scheme rules, contribution limits and retirement options before making decisions.