Pension Shortfall Calculator (UK)
Compare your projected pension income with your target and see how much more you may need to save each month to close any shortfall.
Your details
The total value of your pension savings today.
Total going in each month, including any employer contributions.
A long-term average growth rate. 4–5% is a commonly used cautious estimate.
Your results
Your figures appear here as you fill in your details.
This calculator is for educational purposes only and does not constitute financial advice. Results assume a 4% safe withdrawal rate and are estimates based on the assumptions you provide; actual results will vary. For personalised advice, please consult a qualified financial adviser.
How this works
Your projected pot combines two parts:
- Your current pot, grown to retirement — compounded monthly at your expected annual return.
- Your future contributions — the future value of saving your monthly amount every month until retirement.
We then turn that pot into income using a 4% safe withdrawal rate (so income is 4% of the projected pot each year) and, if you include it, add an approximate full State Pension of about £11,500 a year.
That projected annual income is compared with your desired retirement income. If there is a shortfall, the "extra monthly saving" figure is the additional amount you would need to contribute each month — at the same assumed return — to build the extra pot (shortfall ÷ 4%) needed to close it by your retirement age.
Assumptions
- Growth is a constant annual rate, compounded monthly. Real returns vary year to year.
- Income is drawn at a fixed 4% of the projected pot per year (a commonly used sustainable-withdrawal guideline).
- The State Pension figure is an approximation of the full new State Pension and assumes you qualify in full; it ignores your actual National Insurance record.
- Figures ignore inflation, tax, and other sources of income. Contributions are assumed to stay level until retirement.
Last updated . Figures are UK-specific — check current rates on GOV.UK before acting.