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Retirement Income Calculator

Retirement Income Calculator.

We've designed this tool to help you see what income you might expect to get from one of our retirement products, and help you to understand the options available to you.

Choosing how best to receive an income in retirement is an important decision, so it's essential to shop around and get as much advice and guidance as you need to make the right decision for you, and your circumstances. Please remember, there may be other providers who offer more appropriate products that may provide a higher income, than us.

When looking at your options, it's important to tell providers of any medical conditions or lifestyle health risks that you have. For example, if you smoke, drink or take regular medication, as it may increase the amount of income you will receive.

These results are examples only and aren't formal advice. If you'd like more help, or guidance, please take a look at our how to choose page. You can get a personalised quote online, or, contact us to talk to someone about your options.

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Select the product you would like an illustration for.

Please input your age. This must be between 55 and 908585.
Please input an age between 55 and 908585. Please amend.
(Optional)
Please input your main UK residential postcode.
You have input an incorrect postcode. Please amend.
It is possible to take up to 25% of your pension pot as a tax-free cash sum. The value you input here should be the amount you have left after you have taken any tax-free cash.
Please input a value between £5,000£10,000£10,000 and £1,000,000.

Please answer one of these

You can select any period between 3 and 25 years.
Please input a period between 3 and 25 years.

Please answer one of these questions

Please input the value of the lump sum you'd like to receive at the end of the fixed term. You can select any value between £1 and £1,000,000.
Please input a value between £1 and £1,000,000.
You can select an annual income between £1 and £1,000,000.
Please input an annual income between £1 and £1,000,000.

The lump sum payable at the end of the term will be calculated.Your annual income will be calculated.The number of years you will receive income will be calculated.

Unfortunately due to the investment amount, term and our current rates we are unable to offer you an illustration. This is because we wouldn't be able to offer you any amount of return on your investment over your selected term at this time.
Sorry this service is currently not available. Please contact us us for a guaranteed quote.

Income Estimate

Based on this information you could receive an income of £ a year, increasing by % year on year for the rest of your life, less any income tax you need to pay.

In providing this estimate we have made a number of assumptions. We would encourage you to try different combinations so that you can see what effect the selections you make have on your estimated income.

You can select any amount between £0 and £999,999.
You must input a value between between £0 and £999,999. Please amend.
You have no tax to pay as your total income is less than the personal allowance.
Income Average life expectancy
Age
Pension Annuity
£0.00
a year

Change the assumptions

Do you want your income to increase over time?
You might want your income to increase each year. For example, to protect against the effects of inflation.
Yes by:
Would you like a minimum payment period in case you were to die early?
Your income is guaranteed for the whole of your life. You can choose to select a minimum period during which payments will be made in case you die early.
Please select the minimum number of years you'd like income to be paid.
   years
The minimum number of years must be between 1 and 30. Please amend.
What proportion of your income would you like your partner to receive when you die?
You can have a portion of your income paid to a surviving partner. Please select the percentage of your income you'd like them to receive after you die.

This illustration assumes that your income will not increase over your lifetimewill increase each year by %, will only be paid for your lifetime with no minimum periodhas a minimum payment period of years even in the event of your death and will not provide your partner with any income after you diewill provide your partner with % of your income after you die.

You could receive a higher income if you suffer from certain lifestyle or medical conditions. Please contact us for a guaranteed quote that takes account of these factors. Remember, it's important to shop around and get as much guidance and advice as you need before you make any decisions on what is best for you. Other providers may have more appropriate products or be able to offer a higher level of retirement income.

To calculate the income you might receive after tax, we have applied a personal allowance of £ and any lower-rate tax to the 'other income' first. If you live in Scotland or Wales you may have a different income tax rate or band. Tax treatment depends on the individual circumstances and may be subject to change in the future.

Income Estimate

Based on this information you could receive an income of £ a year for years , less any income tax you need to pay, with no lump suma lump sum of £ paid at the end of the term.

You can select any amount between £0 and £999,999.
You must input a value between between £0 and £999,999. Please amend.
You have no tax to pay as your total income is less than the personal allowance.
Income Average life expectancy
Age
Cash-Out Retirement Plan Fixed Term Retirement Plan
£0.00
a year
, lump sum
£0.00
Pension Annuity
£0.00
a year

Change the assumptions

Do you want any remaining benefits to continue to be paid when you die ?
If you were to die during the term of the plan, you can select whether the remaining benefits are to be paid to your estate. The level of income will be affected by the selection you make.

Would you like to compare the fixed term income above to what you could expect to receive from a lifetime Pension Annuity ?

This illustration assumes that any remaining benefits will continue to be paid to your nominated beneficiary after you die.no further income payments or the maturity value will be paid if you die.

If you use the maturity value to provide you with further income, the value may not be enough to provide the same level of income that you were receiving during the term of your plan.

The plan does not allow you to withdraw cash amounts as and when you choose. The amounts you receive will be the fixed regular income payments.

Remember, it's important to shop around and get as much guidance and advice as you need before you make any decisions on what is best for you. Other providers may have more appropriate products or be able to offer a higher level of retirement income.

The Pension Annuity shown assumes that your income will not increase over your lifetime, has a minimum payment period of 10 years even in the event of your death and will not provide your partner with any income after you die.

You may be able to obtain a higher amount of income through a product that assesses your health and offers higher returns for certain lifestyle or medical conditions.

To calculate the income you might receive after tax, we have applied a personal allowance of £ and any lower-rate tax to the 'other income' first. If you live in Scotland or Wales you may have a different income tax rate or band. Tax treatment depends on the individual circumstances and may be subject to change in the future.