How the projection works
Today's money = future pot ÷ (1 + inflation)^years
Workplace pensions under auto-enrolment need at least 8% of qualifying earnings: usually 5% from you (including tax relief) and 3% from your employer. Many employers pay more if you do.
Worked example
A pot of £20,000 with £300 a month going in for 30 years at 5% growth after fees grows to about £331,052. You will have paid in £128,000. With 2.5% inflation that is worth about £157,826 in today's money: drawing 4% a year would give about £6,313 a year on top of the State Pension.
The State Pension
The full new State Pension is £241.30 a week (£12,547.60 a year) from April 2026. You usually need 35 qualifying years of National Insurance for the full amount and at least 10 years to get anything. Check your own forecast on gov.uk.
Want to see the effect of saving outside a pension? Use the compound interest calculator.
Frequently asked questions
How much will my pension be worth?
£20,000 plus £300 a month for 30 years at 5% growth reaches about £331,000, or about £158,000 in today's money at 2.5% inflation.
How much is the full State Pension in 2026/27?
£241.30 a week, which is £12,547.60 a year.
How much of my pension can I take tax free?
Usually 25% of the pot, up to the lump sum allowance of £268,275. The rest is taxed as income when you draw it.
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Last updated October 2026.