Estimate how long your pension pot may last. Enter your pot, yearly withdrawal, expected growth and charges to see a year-by-year UK drawdown projection.
Estimate pension drawdown sustainability
Year-by-year projection
| Year | Opening pot | Growth | Charges | Withdrawal | Closing pot |
|---|
Projection uses smooth annual returns and year-end withdrawals. Real investment returns vary and can arrive in a different order.
How to use this pension drawdown calculator
- Enter the amount already in your drawdown pot. If you have taken tax-free cash, enter the amount left invested.
- Enter the gross amount you plan to withdraw in the first year. This is the amount removed from the pot before any personal Income Tax.
- Choose an assumed annual investment return, the percentage by which withdrawals rise each year, and your annual pension charges. Enter 0 where an increase or charge does not apply.
- Choose the number of years and select Calculate drawdown. The result shows the remaining pot, the year it could run out, and a year-by-year table. Try different assumptions to see how the result changes.
The tool assumes the same return every year and withdrawals at each year-end. It does not predict future markets or calculate your take-home income.
How the projection works
For each year, the calculator applies the selected investment return to the opening pot, deducts the annual charge and then removes the planned gross withdrawal. The next year’s withdrawal increases by the entered percentage.
Charges: value after growth × annual fee
Closing pot: opening pot + growth − charges − withdrawal
Worked example
Suppose you start with £300,000 and take £15,000 gross in the first year, an initial withdrawal rate of 5%. Assume 4% annual investment growth, 0.75% annual charges, and a 2.5% increase in withdrawals each year. Under this calculator’s year-end withdrawal method, the pot is about £294,660 after year 1 and £52,466 after year 20. It runs out during year 23: only about £5,507 of the planned £25,824 withdrawal is available that year. These are illustrations under smooth returns, before personal tax, not a forecast of actual investment performance.
| Assumption | Example |
|---|---|
| Starting pot | £300,000 |
| First withdrawal | £15,000 |
| Annual return | 4% |
| Withdrawal increase | 2.5% |
| Annual charges | 0.75% |
Drawdown is flexible but not guaranteed
MoneyHelper explains that flexi-access drawdown lets a person leave pension money invested while choosing when and how much to withdraw. Investment performance, charges and withdrawal levels affect how long the pot lasts, and the income is not guaranteed for life. Read the official MoneyHelper pension drawdown guidance.
Tax and sequence risk
This calculator uses gross withdrawals: it does not deduct Income Tax or calculate tax-free cash. If you have already taken tax-free cash, use only the amount still invested as your starting pot. UK pension tax depends on how you take the money and your circumstances; see GOV.UK guidance on taking a personal pension.
Returns here are smooth and identical each year. In reality, poor returns early in retirement can leave less invested for a later recovery. Test lower returns and higher charges as well as your preferred scenario, and review the plan regularly.
How long will my pension last?
If you are searching for a how long will my pension last calculator, enter your current pension pot and the gross amount you intend to take in the first year. The year-by-year projection shows when the pot could run out under your assumptions. A larger withdrawal, higher charges or lower growth can shorten that period. The initial withdrawal rate is your first-year withdrawal divided by your starting pot; it is not a guaranteed safe rate.
Income drawdown and pension pot withdrawals
This tool also works as an income drawdown calculator or pension pot drawdown calculator: it estimates the balance left after planned withdrawals. For a pension income drawdown calculator comparison, change the first-year gross withdrawal and recalculate to see how different income amounts affect the pot. A SIPP drawdown calculator uses the same basic projection if the SIPP money is invested and you enter its relevant charges. The tool does not model provider-specific rules, market volatility, or tax on your income.
People looking for a drawdown pension calculator, drawdown calculator UK or flexi-access drawdown calculator can use this projection to test assumptions. It is a planning illustration for a defined contribution pot, not a recommendation on how much to withdraw. If you need a pension drawdown tax calculator, this tool will not give a net-income figure: it shows gross withdrawals only. Check your personal tax position separately.
Which pension drawdown calculator should you use?
The best pension drawdown calculator for you depends on the question you need answered. This free pension drawdown calculator estimates how long a defined contribution pot could last with a fixed growth assumption, charges and rising gross withdrawals. For a pension drawdown calculation, enter the amount left invested, not an earlier balance before any tax-free cash. If you want a retirement drawdown calculator that also includes State Pension, tax or other income, this tool alone does not provide that combined figure.
A drawdown pension calculator UK comparison should make its assumptions clear. Try different withdrawal amounts rather than treating one result as a safe income level. A tax on pension drawdown calculator would need information about other taxable income and how benefits are taken; this page deliberately reports gross withdrawals. Similarly, an annuity quote, cashing in the whole pension or a provider-specific SIPP calculation requires a different comparison.
Planning your pension income
A pension income calculator drawdown estimate is most useful when you try several monthly withdrawal amounts. If you are cashing in pension savings, compare a smaller regular income with a larger one-off withdrawal: the remaining pot can last very different lengths of time. This is also a practical way to calculate pension drawdown before choosing a plan.
A pension withdrawal calculator UK search may bring you here, but this projection is only an estimate of how long your pot may last. For a tax calculator for pension drawdown, check the tax year and your other income separately; for flexible drawdown or a SIPP income drawdown calculator, check the specific provider’s withdrawal rules as well.
Which drawdown calculator fits your retirement plan?
If you are asking which drawdown pension calculator to use, start with the decision you need to make: how much to withdraw, how long your pot might last or how to meet a retirement-income gap. An income drawdown calculator UK estimate can help you test withdrawal and growth assumptions. A drawdown income calculator result is a scenario, so try a less favourable return as well as your starting assumption.
Which income drawdown calculator should I choose?
The best drawdown pension calculator for your planning should explain what it includes and what it leaves out. This UK pension drawdown calculator projects the effect of your entered assumptions; it does not select investments, guarantee income or calculate every tax adjustment. A drawdown pensions calculator or pensions drawdown calculator serves the same general purpose when you want to explore regular withdrawals.
Pension calculator drawdown: compare income and pot life
Use an income drawdown pension calculator to compare a lower withdrawal with a higher one while keeping the other assumptions unchanged. To calculate drawdown pension scenarios, begin with the amount you expect to need from the pot, then check how a smaller amount changes the projection. Searches such as “drawdown calculator pension”, “drawdown calculator retirement” and “drawdown retirement calculator” describe this same balance between income now and money remaining later.
Flexible drawdown calculator scenarios
A flexible drawdown pension calculator can help you think through different withdrawal amounts, but your provider’s rules and your personal circumstances determine what is available. If you searched for a flexi drawdown pension calculator or flexi access drawdown calculator, test a few withdrawal assumptions here and check the arrangement with your provider separately. Flexibility does not mean that a pot can support every income level indefinitely.
Draw down pension calculator and pension draw down calculator searches
Both phrases refer to exploring income taken from pension savings. When reviewing a “pension drawdown calculator which” search result, check its assumptions before comparing it with another tool. Similar names do not mean that two tools use the same tax treatment, investment return or withdrawal timing.
Cashing in pension calculator: regular income or a larger withdrawal?
A pension cash out calculator or cash out pension calculator search may mean you are considering taking a larger amount at once. This page models a drawdown scenario, rather than providing a full cash-out tax calculation. A pension lump sum withdrawal calculator would need to consider the lump sum, any tax-free entitlement, other income and the relevant rules. Check those separately before using a pot-life estimate to make a withdrawal decision.
Pension release calculator and pension withdrawal planning
A pension release calculator cannot by itself establish whether you are eligible to access a pension. Confirm access conditions with your provider. If you reached this page through the spelling “pension withdrawl calculator”, use the projection to explore the effect of withdrawals, then verify eligibility and tax separately. Your accessible amount and the money left after tax can differ.
Drawdown pension tax calculator: understand the limit
Tax affects the amount you can spend, so check whether a withdrawal assumption is gross or after tax before relying on a projection. This page should not be treated as a complete drawdown pension tax calculator: the pot-life estimate does not resolve every personal tax circumstance. Keep a separate tax estimate alongside your retirement-income plan.
Pension drawdown rates UK: withdrawal and return are different
Your withdrawal rate is the amount taken from the pot relative to its value. An assumed investment growth rate describes how the remaining investments might change. They are different inputs, and neither is a promise of future income. A capped drawdown maximum income calculator would also need the applicable capped-drawdown rules; this projection does not calculate that maximum.
Drawdown calculator including State Pension
If you need a drawdown calculator including State Pension, first estimate the income you expect from other sources and the remaining gap your pension pot must cover. Enter that gap as your withdrawal assumption where appropriate. This tool does not retrieve a State Pension forecast or automatically calculate your entitlement.
Annuity vs drawdown calculator comparisons
An annuity vs drawdown calculator comparison should consider the income terms and risks of each option. This page projects withdrawals from a pot; it does not obtain an annuity quote or guarantee an equivalent income. Use actual annuity terms and a separate drawdown scenario when considering the trade-offs.
Savings drawdown calculator UK and investment drawdown calculator searches
A savings drawdown calculator can explore spending a balance over time, while an investment drawdown calculator also needs suitable assumptions about returns and risk. This page is written for pension-pot planning. Non-pension savings may have different access and tax treatment, so do not assume the pension guidance applies to an ordinary savings account. A pension mortgage calculator answers a borrowing question that this tool does not model.
Provider drawdown calculators
If you searched for a Hargreaves Lansdown drawdown calculator, HL pension drawdown calculator, Pru drawdown calculator, LV pension calculator or PensionBee drawdown calculator, this is an independent tool and is not any provider’s official calculator. Use your own pot and withdrawal figures to explore a scenario here, then check provider-specific charges, assumptions and account rules directly. The result does not access your provider account.
Is this a pension drawdown calculator GOV service?
No. If you arrived through “pension drawdown calculator UK GOV”, this website is independent and is not a government service. Use official guidance and your provider’s information to check the rules that apply to you; the calculator helps you explore the figures you enter.
Related UK calculators
- Explore transfer estimates with the Pension Transfer Value Calculator.
- Model wider retirement planning with the Retirement Calculator UK.
- Project pension accumulation with the Pension Pot Calculator UK.
- Browse more tools on the United Kingdom Calculator homepage.
SIPP drawdown calculator: using a self-invested pension
If you hold a self-invested personal pension (SIPP), you can use this calculator to explore withdrawals from the part of your SIPP already in flexi-access drawdown. Enter the amount still invested after any tax-free cash, and include relevant platform, fund and adviser charges in the annual charge assumption. A SIPP is an account type, not a guarantee of returns: investments can fall in value and the projection is not a provider-specific quotation.
How much pension income can I take each month?
Think about the gross annual income you need from your pension alongside State Pension, other pensions and savings. For example, £1,000 a month means £12,000 gross a year; £1,500 a month means £18,000. Enter the annual figure above and compare several withdrawal levels. The result shows a simplified pot projection, not take-home pay: Income Tax, tax-free cash rules and other income can change the amount you actually receive.
What is a sustainable pension drawdown rate?
Your starting withdrawal rate is your first year’s gross withdrawal divided by the pension pot you model. Taking £12,000 from £300,000 starts at 4%; taking £18,000 starts at 6%. Neither rate is automatically safe. Your retirement length, investment returns, charges, inflation and the timing of market falls all matter. Try lower growth, higher charges and different withdrawal increases rather than relying on one optimistic result. This calculator uses a steady annual return assumption, not simulated good and bad market sequences.
Tax-free pension cash, income tax and the MPAA
Under normal UK rules, up to 25% of eligible pension benefits may be taken tax-free, subject to applicable allowances and personal circumstances. Flexi-access drawdown income is generally taxable. Taking taxable flexible pension income can also trigger the money purchase annual allowance (MPAA), which can restrict future tax-relieved defined contribution pension saving. Taking only tax-free cash does not normally trigger it. Rules and exceptions matter, so check before withdrawing or continuing pension contributions. This calculator does not work out tax, allowances or MPAA effects.
Drawdown versus an annuity: flexibility or guaranteed income?
Drawdown keeps your pension invested and lets you adjust withdrawals, but your pot can run out. An annuity converts some or all of your pension savings into an income according to its terms, which may offer greater certainty. You can sometimes combine options. Compare charges, death benefits, inflation protection and your need for a reliable income before choosing. For impartial help, see MoneyHelper’s pension drawdown guide and consider a free Pension Wise appointment if eligible.
Frequently asked questions
What is pension drawdown?
It is a way to leave a defined contribution pension invested while taking flexible withdrawals from it.
Does the calculator include Income Tax?
No. It projects the pension pot using gross withdrawals. Tax depends on personal circumstances and how benefits are taken.
Are investment returns guaranteed?
No. The entered return is a smooth planning assumption, while real annual returns can be positive or negative.
What happens if the pot runs out?
The projection stops in the year the available pot can no longer cover the planned withdrawal and reports depletion.
Why include pension charges?
Provider, platform and investment charges reduce the amount remaining to grow and fund future withdrawals.