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Pension Planner

Take control and boost your pension pot
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Our pension income calculator assumptions

Thank you for using our pension income calculator. We've made a number of assumptions to estimate your results.

How we estimated your pension pot

  • The projected fund value, cash lump sum and income amounts are all based on you accessing your pension at the retirement age you stated.
  • We've assumed that contributions made by you or your employer are all maintained.
  • We've assumed your pension pot grows by 5% each year between now and your retirement, and have accounted for inflation at 2.5% a year which is deducted from this 5%.
  • We've assumed a fund charge of 1% for the standard calculations. The actual charges on your current pension may be higher or lower than this.
  • We've assumed that when you retire you take your 25% tax free lump sum and an income of 6% a year from the remaining fund. For example, if your fund was worth £80,000 you would take £20,000 as cash and from the remaining £60,000 you would take £3,600 a year.
  • There is no guarantee that this level of income would be sustainable for the whole of your retirement; we have used this for illustration purposes only.
  • The estimated pension value lump sum and income payments that might be payable are examples and for illustrative purposes only.
  • The figures that we have displayed are not guaranteed and may be higher or lower.

How we calculated your boosted pension pot

  • The projected fund value, cash lump sum and income amounts are all based on you accessing your pension at the retirement age you stated.
  • We've assumed that contributions made by you or your employer are all maintained.
  • We've assumed your pension pot grows by 5% each year between now and your retirement, and have accounted for inflation at 2.5% a year which is deducted from this 5%.
  • We've assumed an LV= annual fund charge of 0.49% for the standard calculations. The actual charge may be higher or lower than this depending on the investment choices you make.
  • We've assumed that when you retire you take your 25% tax free lump sum and an income of 6% a year from the remaining fund. For example, if your fund was worth £80,000 you would take £20,000 as cash and from the remaining £60,000 you would take £3,600 a year.
  • There is no guarantee that this level of income would be sustainable for the whole of your retirement; we have used this for illustration purposes only.
  • The estimated pension value lump sum and income payments that might be payable are examples and for illustrative purposes only.
  • The figures that we have displayed are not guaranteed and may be higher or lower.