Pension Shortfall Calculator

Pension Shortfall Calculator

This calculator is designed to help you understand your current pension provision and what it is likely to provide you with at retirement. The calculator requires you to input various bits of information, some of which is factual (e.g. your age) and some of which you will have to choose based upon what you think might happen (e.g. what inflation will be over the term). The calculator is only as accurate as the information entered into it, but you can choose different assumptions as many times as you wish to see how this will affect the numbers.

At the bottom of the calculator the result show you what your current pension provision will provide you at your chosen retirement date, and the cost of any shortfall in achieving your desired income. It calculates the cost of providing you with your desired income over the term either (i) as a single contribution made now, or (ii) as a regular monthly premium payable over the remaining term to your chosen retirement date.