Search results
Currently the State Pension Age for both men and women is 66. From April 2026 the State Pension Age for both men and women will start to increase to reach 67 by April 2028. The Government is also considering the timetable for future increases to the State Pension Age from 67 to 68.
- Retirement calculator
Please enter your details to begin. Your age. £. Approximate...
- Pensions
Pensions. Pensions are a tax-efficient way to save for...
- Retirement calculator
Make your retirement action plan in three steps. Please enter your details to begin. Your age. £. Approximate pension value. The NMPA (Normal Minimum Pension Age) is the earliest age that you can normally access your pension savings and is set by the government. This is currently age 55 but will be increasing to age 57 on 6th April 2028.
- Lump Sum Payout Or Monthly Pension Income?
- Single-Life Or Joint-And-Survivor Pension Payout?
- Should You Work Longer For A Better Pension?
There are mainly two options regarding how to receive income from a pension plan: either take it out as a lump sum payment, or have it distributed in a stream of periodic payments until the retiree passes away (or in some cases, until both the retiree and their spouse passes away).
A single-life pension means the employer will pay their employee's pension until their death. This payment option offers a higher payment per month but will not continue paying benefits to a spouse who outlives the retiree. In contrast, a joint-and-survivor pension payout pays a lower amount per month, but when the retiree dies, the surviving spous...
It is possible for some people to postpone retirement for several years for more pension income later. Use this calculation to see which option is preferred.
Sep 12, 2024 · Use the Formula: For instance, with an annual pension of $67,500, a 2.55% return rate, and a 95% payout probability, you’d calculate: Value of Pension = ($67,500 ÷ 0.0255) × 0.95 = $2,514,706. Apply the Formula: You can calculate the value of your pension using this formula: Value of Pension = (Annual Pension Amount ÷ Rate of Return) × Probability of Payout .
Please enter your details to begin. Your age. £. Approximate pension value. Email address (optional)
Pension Calculator. Money market accounts are similar to savings accounts, but offer some checking features as well. Unlock financial rewards by signing up for a savings or checking account with a ...
People also ask
What is a pension calculator?
Are pensions a tax-efficient way to save for retirement?
Who is the best age to start a pension?
What is a single-life pension?
Who should get a pension?
Should I choose a pension plan that only pays through my lifetime?
Pensions. Pensions are a tax-efficient way to save for retirement. Learn more about Standard Life pensions, read pension guides, try our calculator and more here. A pension is a long-term investment. Its value can go down as well as up and could be worth less than was paid in. Laws and tax rules may change in the future.
