Pension income calculator

Our pension income calculator assumptions

Thanks for using our pension income calculator - here's how we estimated 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 per cent each year between now and your retirement, and have accounted for inflation at 2.5 per cent a year which is deducted from this 5 per cent
  • We've assumed a fund charge of 1 per cent 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 per cent tax free lump sum and an income of 6 per cent 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 per cent each year between now and your retirement, and have accounted for inflation at 2.5 per cent a year which is deducted from this 5 per cent 
  • We've assumed an LV= annual fund charge of 0.49 per cent 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 per cent tax free lump sum and an income of 6 per cent 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