Retirement income calculator

It's simple to use, just add your age and the amount in your pension pot below. Don't include any final salary pensions or your state pension.

I am years old and I have saved in my pension pots


Total pension pot
Tax free cash 25%
Remaining pension pot

The example gives you an idea of the income our Pension Annuity might provide. They assume you take the maximum 25% tax-free cash sum available but you can choose to take less. The results are examples only and aren't advice. The actual income you can get will depend on your individual circumstances.

Guaranteed income for the rest of your life

Pension Annuity

a year
for the rest of your life
  • Can pay higher income for health conditions and lifestyle risks.
  • Can provide an income for your spouse, civil partner or beneficiary after you die.
  • Can’t change your options once started.

The figure above shows the gross income before any tax is deducted.

Giving you a flexible income


You could take money from your pension pot as an when you need it, while keeping it invested.

  • Take up to 25% of your pension pot as a tax-free lump sum
  • Invest the rest, with the flexibility to use as you choose, subject to product terms and conditions
  • Your money is still subject to investment risk and the amount you have invested can go down as well as up


Take it all as cash

The total cash payment shown below includes the 25% tax-free amount

Total cash payment after tax.
Tax that will be due
  • Take whole pension pot in one go.
  • You could pay more tax than other options.
  • Money might not last as long as you need.

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Next steps

It’s worth taking a look at what your options are in more detail, by getting a quote:

Next steps

Need some help?

Making well-informed decisions about financing your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy. Other providers may have more appropriate products or be able to offer a higher level of retirement income.

Retirement guidance

Pension Wise from MoneyHelper

You can get guidance from the government's free and impartial service to help make your money and pension choices clearer.

The availability of appointments can vary between a few days and several weeks, so if you need guidance, it's a good idea to book an appointment slot now:

0800 100 166
8am to 6.30pm, Monday to Friday.
Calls may be recorded and monitored.

Find out more about a Pension Annuity

Learn more about the features of our Pension Annuity and answers to common questions.

Get financial advice


Financial advisers can give you professional advice for pension planning.

You usually need to pay for their service and in return they recommend how to make the most of your pension given your circumstances.

To find and compare financial advisers please visit their website below.