Pension Wise Annuity Calculator

Our calculator is a simple way to get an idea of the income you might receive from our pension annuity.

Pension wise annuity calculator. Pensions retirement calculators. You can use your pension pot to buy an insurance policy that gives you a guaranteed income for the rest of your life. Pension calculator helps you calculate your income requirements post retirement on the basis of your age annual income savings nature of accommodation and the expected growth rate. If you ve already checked your state pension external website this pension calculator by the money advice service external website can help you understand how much you could get from your total pension pot.

This will include income from defined benefit and defined contribution schemes plus either the basic state pension or the new state pension depending on when you were born. It s quick and easy to use. We ll then use this information to give you a summary with an income figure based on our own pension annuity. This is called an annuity.

You can take 25 of your pot as tax free cash and buy an annuity with the other 75. Just tell us some basic information about you your preferences and the value of any pensions you may have. Pensions personal pensions options for cashing in your pensions retiring abroad long term care you re retired planning your retirement pension wise. Pension wise is a free and impartial government service that helps you understand the options for your pension pot.

You get a fixed income for life or for a set number of years. Coronavirus read our latest advice. We also help you to start to th. Pension calculator basically helps you determine the monthly amount you need to invest towards a retirement plan in order to meet your financial needs during your golden years.

Calculate how much tax relief you can get on your pension in the 2020 21 tax year and see how it compares to 2019 20 and 2018 19. Buying a guaranteed income annuity is just one of several options you have for using your pension pot. Calculate how much tax you ll pay when you withdraw a lump sum from your pension in the 2019 20 and 2020 21 tax years. This calculator is designed to give an indication of the monthly pension contribution you may need to make in order to achieve your target monthly income in retirement.

If your existing pension provider offers a guaranteed annuity rate it will be hard to match be sure to ask about this and then compare quotes. It is important to note that the calculator takes into account that your target monthly income includes the social welfare pension which zurich life assumes you will be entitled to when you retire. Get a guaranteed income annuity overview. In a few easy steps our pension calculator can give you an estimate of the income you ll get when you retire.