Pension Drawdown Calculator
Pension Drawdown
Calculator
If you’re currently 55 or over, you can choose to access your pension using drawdown. Usually up to 25% can be paid to you as a tax-free lump sum, and the rest stays invested as you choose. You’re in control, and can make withdrawals as and when you need to (which are taxable).
Use this calculator to help you decide what income withdrawals might be sustainable, and see how different growth rates and life expectancies could affect how long your pension lasts.
Important information: What you do with your pension is an important decision that you may not be able to change. You should check you're making the right decision for your circumstances and that you understand your options and the risks. Drawdown is a higher risk option than an annuity. The government's free and impartial Pension Wise service can help you and we can offer you advice. The information on our website isn't personal advice. Tax rules can change and benefits depend on your circumstances.
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Important information: What you do with your pension is an important decision that you may not be able to change. You should check you're making the right decision for your circumstances and that you understand your options and the risks. Drawdown is a higher risk option than an annuity. The government's free and impartial Pension Wise service can help you and we can offer you advice. The information on our website isn't personal advice. Tax rules can change and benefits depend on your circumstances.
You should check the assumptions used to generate your results, and customise these details to meet your own expectations and investment strategies.
All investments, and the income they produce, can fall and rise in value meaning income from drawdown isn’t guaranteed. Your pension could be depleted if you’re investments don’t perform as you’d hoped, you withdraw too much too soon, or you live longer than expected.
