What is the Retirement Income Calculator?
The Retirement Income Calculator aggregates all your retirement income sources to show your total income, tax position, and net income after tax. It helps you understand how much you’ll have to live on in retirement from State Pension, pensions, annuities, ISAs, and other sources.
How the Calculator Works?
This calculator brings together all your retirement income sources into one place. Enter your State Pension entitlement, defined benefit pensions, defined contribution pensions (using drawdown), annuities, ISAs, and any other income. The calculator then totals everything, calculates your UK tax liability based on 2026/2027 tax bands, and shows your net income after tax.
It also provides a sustainability assessment, indicating how much of your income is guaranteed (from State Pension, DB pensions, annuities) versus drawdown-based (from DC pensions and ISAs). A higher percentage of guaranteed income typically means more sustainable retirement income.
Step One: Add Your Income Sources
Enter all your retirement income sources, including State Pension, DB pensions, DC pensions (with pot size and withdrawal rate), annuities, ISAs, and any other income. You can add multiple sources of each type.
Step Two: Set Assumptions and Tax Setting
Configure default withdrawal rates for DC pensions and ISAs, inflation assumptions, and UK tax band thresholds for 2026/2027. These can be adjusted to match your specific circumstances.
Step Three: Review Your Total Income
See your total annual and monthly income from all sources, detailed tax breakdown, net income after tax, and sustainability assessment. The income breakdown table shows exactly where your income comes from.
Disclaimer: This calculator provides illustrative calculations only and does not constitute financial or tax advice. Tax calculations are simplified and do not account for all UK tax rules, allowances, or personal circumstances. Investment returns, tax rates, and personal circumstances vary. Always check scheme documentation and consider professional advice.
What does retirement mean to you?
Traditional retirement is broken. Understand how our calculator enables you to live a better life now vs later.
Retire from corporate work?
Use the tool to utilise how you can step away from the corporate world and live life on your own terms.
Work less, live more
See how part-time or project-based work can bridge your income gap while giving you more time for life.
Freedom through planning
Understand how your savings, spending and investments can work together to buy back your time.
Test-drive retirement early
Model scenarios that let you experience elements of retirement before fully stepping away.
What is the Retirement Income Calculator?
It is a UK-specific tool that aggregates all your retirement income sources (State Pension, pensions, annuities, ISAs, etc.) to show your total income, tax liability, and net income after tax.
Does it include the State Pension?
Yes. The UK State Pension is included and defaults to the 2026/2027 amount of £12,547.60 per year. You can adjust this if your entitlement differs and specify the number of recipients (1 or 2).
How does it calculate DC pension income?
DC pension income is calculated using drawdown: pot size × withdrawal rate. The default withdrawal rate is 4% (typical safe withdrawal rate), but you can adjust this for each DC pension source.
How does it calculate ISA income?
ISA income is calculated the same way as DC pensions: pot size × withdrawal rate. ISAs provide tax-free withdrawals, which is reflected in the tax calculations.
What tax rates does it use?
The calculator uses 2026/2027 UK tax rates: Personal Allowance £12,570, Basic Rate 20% (up to £50,270), Higher Rate 40% (up to £125,140), Additional Rate 45% (above £125,140). You can adjust these thresholds.
What is the sustainability assessment?
The sustainability assessment indicates how much of your income is guaranteed (from State Pension, DB pensions, annuities) versus drawdown-based. High sustainability (70%+ guaranteed) means more secure income, while low sustainability (<50% guaranteed) means more reliance on drawdown.
Can I add multiple pensions?
Yes. You can add multiple DB pensions, DC pensions, annuities, ISAs, and other income sources. Each source can have its own name and amount.
How accurate are the tax calculations?
Tax calculations are simplified and provide an estimate. They do not account for all UK tax rules, allowances, personal circumstances, or tax-efficient strategies. Always consult a qualified tax advisor.
Does it account for pension tax-free lump sum?
No. This calculator focuses on ongoing income. The 25% tax-free lump sum is not included in the income calculations.
Can I export the results?
Yes. Click the “Download CSV Export” button at the bottom to export your income summary, breakdown, and tax details to CSV format.
Is my data stored?
No. All calculations run locally in your browser and no personal data is saved. Your information never leaves your device.
What withdrawal rate should I use?
Typical safe withdrawal rates are 3-4% for sustainable retirement income. Higher rates may deplete your pot faster, while lower rates provide more security but less income.
Does it account for inflation?
The calculator includes an inflation assumption setting, but income amounts are shown in nominal terms (not inflation-adjusted). You can adjust the inflation assumption for future planning.
Can I model different scenarios?
Yes. You can add or remove income sources, adjust amounts, and change withdrawal rates to see how different scenarios affect your total income and tax position.