Disclaimer, assumptions and limitations

Assumptions and limitations

The Pension modeller assumes that:

  • You are a UK tax payer.
  • You will stay in the Scheme until you retire.
  • All contributions will continue at the same rate up to your retirement age.
  • Your account will benefit from an investment return of 7% per year in line with statutory assumptions (actual returns may be different).
  • Your pension at retirement (the type of which you will choose at your retirement date) will:
    • Include a pension payable to a dependant on your death equal to 50% of your own.
    • Increase each year in line with price inflation assumed to be 2.5%.
    • Be guaranteed to be paid for at least 5 years following retirement.
    • Be based on your dependant being 3 years younger than you if you are male, and three years older than you if you are female.
  • Price inflation will stay at a constant 2.5% per annum until you retire and start drawing your pension.
  • Income tax relief is based on the standard personal allowance.
  • In line with statutory assumptions, it will cost 4% of your account value to set up your pension at the time your pension benefits are paid.


The modeller gives an illustration of how much pension might be payable to you, in today's prices, when you retire.

The figures that the modeller shows are for demonstration purposes only and there is no guarantee that the estimated amounts shown will be paid from your pension.

You can consider using the modeller in conjunction with other information about the Scheme, but should not use it as the sole or primary source of information when making decisions about your pension arrangements.

Any pension benefits can only be paid in accordance with the Scheme's rules and legal requirements.

Continue to modeller

This website uses cookies: To give you the best experience, we've set this website to allow cookies. By continuing to use this site, you agree that you're happy for us to use these cookies. You can change your cookie settings at any time.

Hide this message