finance calculator
UK Retirement Pot Planner
Model pension drawdown, the gap years before State Pension, NI top-ups, tax-free cash choices, and phased retirement spending in today's money.
The pot runs out at 88. Try trimming go-go spending, adding part-time income in the gap years, delaying retirement, or reducing the stress fall.
First flexible withdrawal note: HMRC can apply emergency tax to the first withdrawal. A small first withdrawal may establish the tax code before a larger payment.
Your pot through retirement
Balance in today's money, using spread tax-free cash withdrawals.
Where income comes from
Net income by source, against target spending.
Spread vs 25% up front
Spread it
- Longevity
- to 88
- Left at 90
- £0
- Tax paid
- £10,246
25% up front
- Longevity
- to 86
- Left at 90
- £0
- Tax paid
- £15,453
Difference at plan age: £0. Spreading often keeps more tax-free cash available later; taking the lump may fit a specific known use.
Year by year
| Age | Spend | State Pension | Other | From pot | Tax-free | Tax | Pot end |
|---|---|---|---|---|---|---|---|
| 60 | £16,000 | - | - | £16,000 | £4,000 | £0 | £137,350 |
| 61 | £16,000 | - | - | £16,000 | £4,000 | £0 | £124,384 |
| 62 | £16,000 | - | - | £16,000 | £4,000 | £0 | £111,093 |
| 63 | £16,000 | - | - | £16,000 | £4,000 | £0 | £97,471 |
| 64 | £16,000 | - | - | £16,000 | £4,000 | £0 | £83,507 |
| 65 | £16,000 | - | - | £16,000 | £4,000 | £0 | £69,195 |
| 66 | £16,000 | - | - | £16,000 | £4,000 | £0 | £54,525 |
| 67 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £51,731 |
| 68 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £48,867 |
| 69 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £45,931 |
| 70 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £42,922 |
| 71 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £39,837 |
| 72 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £36,676 |
| 73 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £33,435 |
| 74 | £16,000 | £12,548 | - | £4,056 | £1,014 | £604 | £30,114 |
| 75 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £29,121 |
| 76 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £28,104 |
| 77 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £27,060 |
| 78 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £25,991 |
| 79 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £24,895 |
| 80 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £23,772 |
| 81 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £22,621 |
| 82 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £21,441 |
| 83 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £20,231 |
| 84 | £14,000 | £12,548 | - | £1,703 | £426 | £251 | £18,991 |
| 85 | £18,000 | £12,548 | - | £6,409 | £1,602 | £957 | £12,897 |
| 86 | £18,000 | £12,548 | - | £6,409 | £1,602 | £957 | £6,650 |
| 87 | £18,000 | £12,548 | - | £6,409 | £1,602 | £957 | £247 |
| 88 | £18,000 | £12,548 | - | £247 | £62 | £33 | £0 |
| 89 | £18,000 | £12,548 | - | - | - | £0 | £0 |
| 90 | £18,000 | £12,548 | - | - | - | £0 | £0 |
Assumptions
Amounts are in today's money. Pot growth is real growth above inflation. Withdrawals are taken at the start of each year, then the remaining balance grows. Tax uses simplified 2026/27 England, Wales and Northern Ireland income-tax thresholds; Scottish bands, means-tested benefits, fees, provider rules, and investment volatility beyond the optional year-1 fall are not modelled.
Educational model only, not financial advice. Pension and tax rules change; check your State Pension forecast, NI record, and product terms before acting.
Calculator guide
How this retirement pot works
This planner models a defined-contribution pension pot from retirement age to a chosen plan age in today's money. It separates the years before State Pension starts from later retirement, because those gap years often determine whether the pot is under the most pressure and whether withdrawals can use unused personal allowance efficiently.
Spending is split into go-go, slow-go, and no-go phases so the plan does not assume retirement costs stay perfectly flat. You can also add taxable part-time or defined-benefit income, voluntary National Insurance top-ups, a year-one market fall, and a two-year cash buffer.
The withdrawal comparison keeps the pot, spending, and income assumptions fixed, then compares spreading 25% tax-free cash across withdrawals against taking the 25% tax-free lump sum up front. The result is intended for scenario planning, not product selection or regulated advice. The year-by-year table is deliberately explicit so changes in assumptions are easy to audit and compare.
Methodology and sources
Last reviewed:
Each plan year starts with target spending, then subtracts State Pension and other taxable income to calculate the net amount needed from the pension pot.
For UFPLS-style spreading, the calculator solves the gross withdrawal required when 25% of that withdrawal is tax-free and 75% is taxable on top of other income. For the lump-sum method, 25% of the starting pot is moved into a tax-free cash bucket and later pension withdrawals are treated as taxable.
The remaining pot grows at the selected real growth rate after withdrawals. Optional stress testing applies a one-off real fall in year one; the optional cash buffer reserves up to two years of starting spending before the projection begins.
Assumptions
- All figures are in today's money; inflation is handled by using a real growth rate above inflation.
- Tax uses simplified 2026/27 England, Wales, and Northern Ireland income-tax thresholds and does not model Scottish tax bands.
- Provider charges, investment volatility beyond the optional year-one fall, means-tested benefits, annuities, inheritance tax, lifetime allowance protections, and individual product rules are not modelled.
Sources
This retirement projection is an educational estimate only, not financial, tax, or pension advice. Pension and tax rules change; check official records and consider regulated advice before acting.
Spot a methodology issue? Send a correction.
Frequently asked questions
What are gap years in retirement planning?
Gap years are the years after you retire but before State Pension starts. During this period, the pension pot often has to cover more of your spending, but lower taxable income can also create useful allowance room for phased withdrawals.
What is the difference between spread withdrawals and taking 25% up front?
Spread withdrawals treat 25% of each pension withdrawal as tax-free and 75% as taxable. Taking 25% up front moves a quarter of the starting pot into a tax-free cash bucket immediately, while later withdrawals from the remaining pension are taxable.
Does this calculator tell me whether to buy missing NI years?
No. It shows the simple cost, annual increase, and break-even period from the values you enter. Whether a missing year increases your State Pension depends on your National Insurance record, so check the official gov.uk forecast first.
Does this include investment risk?
Only in a simplified way. You can apply a one-off market fall in year one and reserve a cash buffer, but the rest of the projection assumes a steady real growth rate rather than modelling variable market returns.
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