Workplace Pension Calculator
Instantly estimate your future retirement savings based on your salary, contribution rates, employer match, and expected annual growth.
Estimate Your Retirement Savings
Enter your current details below to instantly project your workplace pension pot at retirement, including the powerful impact of employer contributions and compound growth.
Pension Projection Calculator
See how your contributions grow over time.
Understanding Workplace Pensions
Key concepts to maximise your retirement
Auto-Enrolment
UK law requires employers to enroll eligible workers into a pension scheme. The current minimum total contribution is 8% of qualifying earnings.
Free Money (Employer Match)
Employer contributions are essentially a part of your salary package. Failing to contribute enough to get the full match means leaving free money on the table.
Tax Relief
Pension contributions benefit from tax relief. For basic rate taxpayers, every £80 you contribute is topped up to £100 by the government. Higher rate taxpayers can claim additional relief.
Compound Growth
Investment returns are generated not just on your contributions, but also on the accumulated returns from previous years, accelerating growth over time.
UK Auto-Enrolment Minimums
The legal minimum contribution levels for workplace pensions based on qualifying earnings.
| Contributor | Minimum Percentage | Includes Tax Relief? | Description |
|---|---|---|---|
| 5% | Yes (usually) | Employee minimum contribution (includes 1% tax relief) | |
| 3% | No | Employer minimum contribution | |
| 8% | – | Total minimum combined contribution |
Workplace Pension FAQ
Answers to the most frequently asked questions about UK workplace pensions, contributions, and tax relief.
Auto-enrolment is a UK government initiative requiring employers to automatically enroll eligible workers (aged 22 to State Pension age, earning over £10,000) into a workplace pension scheme. Both the employee and employer must make minimum contributions.
In a ‘net pay’ arrangement, contributions are taken from your salary before tax is calculated, giving you immediate tax relief. In a ‘relief at source’ scheme, contributions are taken after tax, and the pension provider claims basic rate (20%) tax relief and adds it to your pot. Higher rate taxpayers must claim the additional relief via their Self Assessment tax return.
Yes, you can opt out. If you opt out within one month of being enrolled, any contributions you made will be refunded. However, opting out means missing out on free employer contributions and tax relief, which can significantly impact your long-term retirement savings.
Your pension pot remains yours. You can typically leave it where it is, transfer it to your new employer’s scheme, or transfer it to a personal pension or SIPP. It is advisable to compare fees, investment options, and any guaranteed benefits before transferring.
Currently, you can access your workplace pension from age 55. This minimum pension age is scheduled to rise to 57 from 6 April 2028. You can usually take up to 25% of the pot as a tax-free lump sum, with the remainder taxed as income.