How much will I get when I retire?

It’s possible to get an estimate of how much you’ll get from a workplace pension. You may hear this referred to as a ‘pension projection’. You can get this from your pension scheme provider and with The People’s Pension, you can see this in your account online or within our app. This will give you the opportunity to check that your pension savings still meet your needs. Remember, it’s not a promise or guarantee that your benefits will be paid at the value shown in the projection statement. Lots of things affect what you might get back such as how long your money is invested, how much you pay in, how the investment performs, and what age you choose to take your money etc. The value is also based on a number of general assumptions.

Your projected pension pot at retirement is also affected by inflation – find out more

Our retirement planner can help you to work out if you’re on track to live the retirement you want. It shows you how much money you’re likely to need and could have in retirement. Find the planner in your account.

Or you can use the MoneyHelper’s pension calculator. It gives you an estimate of the income you’ll get when you retire by including income from defined benefit and defined contribution schemes, plus your basic State Pension.

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