Build up your desired annual spending category by category. Adjust any figure — subtotals, the grand total and the pot needed update automatically. Once you're happy with the total, copy it into the other tabs.
Other tabs work in gross income, while this budget is what you actually want to spend (net of tax). Choose to gross up above if you want the copied figure to cover income tax — the estimate assumes a full personal allowance and basic-rate tax on everything above it.
All figures in today's money (real terms). Growth rate is after inflation. Tax relief on contributions not modelled explicitly — but contributing to a pension is effectively a ~25% boost for basic rate taxpayers (HMRC tops up your contribution).
Chart shows pot value each year until depleted or age 100. State pension reduces withdrawals from the pot from age 67.
Income shown as sustainable annual withdrawal using the 4% drawdown rule. Annuity figures use estimated UK market rates (see Assumptions tab). State pension added from age 67 where applicable. All figures gross (before tax).
Uses the 4% rule — an evidence-based guideline suggesting you can withdraw 4% of your pot per year with a high probability of not running out over a 30-year retirement.
| Retirement age | Rate (%/yr of pot) |
|---|---|
| 55 | 4.2% |
| 60 | 5.0% |
| 65 | 6.2% |
| 70 | 7.8% |
Single-life, level (non-inflation-linked) annuity. Inflation-linked annuities start ~30–40% lower. Enhanced rates available for smokers or those with health conditions.
Full new State Pension is £11,502/yr (2024/25). Qualifying age is 67. Requires 35 qualifying NI years.
All figures are gross (before tax). 25% of your pot can typically be taken tax-free. Withdrawals above £12,570/yr are subject to income tax. Consult an IFA for personalised tax planning.
All figures are in today's money (real terms). Growth rates are after inflation.
Default amounts are typical annual figures for a retired household in the UK, in today's money — they are a starting point only; edit every line to match your plans. Items marked essential (housing, bills, groceries, transport, health) are the floor you can fall back to; everything else (holidays, leisure, eating out, gifts) is discretionary. The "pot needed" figure uses the 4% drawdown rule against your total budget.
Your inputs are saved in the page address — bookmark or copy the link to keep your scenario, or send it to someone to share it. This tool is for illustrative purposes only and does not constitute financial advice. Consult a regulated IFA before making pension decisions.