Pension Contribution Calculator
Enter your salary, contribution percentage and retirement age to see your projected pension pot — and exactly what each £1 of contribution costs you after tax relief.
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Projected values are illustrative only. Does not account for charges, inflation, salary increases or variable returns. Not financial advice.
Contribution examples — £40,000 salary, 3% employer, 5% growth, retire at 67
England/Wales taxpayer, starting at age 35. Click any row to load contribution % into the calculator above.
| Your contribution | Total in/year | Net cost/year | Pot at 67 |
|---|
How pension tax relief works
When you contribute to a personal or workplace pension, HMRC adds tax relief at your marginal income tax rate. For a basic rate (20%) taxpayer, every £80 you contribute becomes £100 in the pension after 20% relief is added.
Higher rate (40%) taxpayers can claim an additional 20% via self assessment, meaning the effective net cost is just £60 for every £100 in the pension. Scottish higher rate payers may benefit from a different calculation.
Salary sacrifice (where your employer pays in directly) saves both income tax and National Insurance — making it even more efficient. See the salary sacrifice calculator.
Frequently asked questions
A common rule of thumb is to save half your age as a percentage — e.g., if you start at 30, contribute 15%. The minimum for auto-enrolment is 8% total (at least 3% from your employer). But the more, the better.
You can contribute up to 100% of your earnings or £60,000 per year (the Annual Allowance in 2026/27), whichever is lower, and receive tax relief. Those who have already taken flexible pension income face a lower Money Purchase Annual Allowance of £10,000.
The minimum pension access age is 57 from 2028 (currently 55). The State Pension age is 67 for those born after 1960, rising to 68 between 2044–2046. You can take 25% of your pension pot as a tax-free lump sum.
This calculator shows projected growth of pension contributions with tax relief. Results are illustrative — actual pension values depend on investment returns, charges and annuity rates at retirement. For defined benefit (final salary) schemes, contact your employer.