Pension Consolidation Calculator | Money Saving Advisors
Estimate the outcome of combining pensions with our calculator. See projected growth or income from a merged pot.
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Take the guesswork out of retirement planning
Juggling multiple pension pots? Our pension consolidation calculator could help. Pop in a few key details, and it'll help you estimate the potential savings, lower fees, and better performance you could get from bringing your pensions together.
What our calculator does – and why it matters
Our calculator is affecting retirement outcomes for pensioners across the UK. Here's how:
- Shows the total saved: Enter your pension balances, and the calculator estimates the future value of combining them. You'll get a clear snapshot of your overall savings and how consolidation could help you meet your investment objectives.
- Highlights fee savings: Many older pensions charge higher fees than modern ones. Our calculator compares typical charges and shows how even small percentage differences can make a big impact over time - especially when investments performance adds up.
- Potential retirement income: Based on your total pot, current age, and assumptions about life expectancy, we'll show you an estimated monthly income at retirement. It's a helpful way to check if you're on track and to spot any gaps early on.
It's simpler than you think
You don't need to dig through decades of paperwork or know everything about pensions. Our calculator is built for real people, not pension pros.
- No financial jargon: The results are designed to be simple. You'll see potential savings, growth forecasts, and how your new pot could support you over time - all in plain English.
- Across the board: Whether your pensions were set up through a financial institution or a workplace scheme, the calculator works the same.
- Free and private: No commitment, no hidden charges. We don't store your data or share it. It's just here to help you explore your options, whether you're transferring pensions, consolidating pots, or comparing charges from different providers.
Summing up
Our pension consolidation calculator helps put you in control of your future. It's simple, quick, and free. Whether you've got two pots or ten, it can help you decide if consolidating them is the right move - and what the benefits could be for your retirement.
Frequently Asked Questions
Do I need to know my different pension details?
No, you don't need to know every detail to get started. The calculator works well with estimates, so if you're not sure about exact figures, just use the most recent pension statements or a rough guess. This still gives you valuable insights into how consolidation could get you more value for money and help you manage your pension savings.
What if I've got a defined benefit pension?
Our calculator is designed with defined contribution (DC) pensions in mind. If you have a defined benefit (DB) pension, you should seek advice from someone qualified to provide investment advice. Making changes without guidance could affect your guaranteed pension benefits, so professional help is important before you think about transferring or consolidating.
Will using the calculator affect my pensions?
Not at all. The calculator is a private, no-obligation tool that doesn't interact with your pension providers or make any changes to your accounts. It won't trigger any updates or transfers - it's just a starting point to help you understand your situation and how consolidating might impact your retirement accounts.
Can I use the calculator more than once?
Absolutely. You can use it as many times as you like to explore different scenarios. You might test varying ages, fees, or pension pot amounts. Even slight percentage differences can have significant effects over time, so this is a smart way to explore your options. It's especially helpful if you're planning for a particular retirement age or considering different providers in the pensions industry.
What happens after I use the calculator?
You'll be in a stronger position to explore your next steps. This might include comparing pension plans, speaking with a pension provider, or using formal advisory or brokerage services to get deeper into your individual circumstances. There's no obligation or pressure to act - the goal is to help you make informed decisions that support your personal finances.
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