Pension Transfer Calculator | Money Saving Advisors
Estimate the potential benefits or losses of transferring your pension with our calculator tool.
Your pension's potential in one click
Thinking about transferring your UK pension? Our pension transfer calculator gives you quick, clear estimates of your pension's value, possible transfer outcomes, and even the tax implications - all in just a few minutes. It's the first step to understanding your options, comparing scenarios, and planning a better financial future abroad.
What does the calculator tell you?
Our calculator is designed to help you solve difficult pension decisions. Whether you're moving abroad and consolidating your pensions, or just curious about your options, it gives you instant clarity on what a pension transfer could look like.
Estimate your transfer value
One of the biggest unknowns is how much your pension is actually worth when transferred. Our calculator helps you:
- See your current transfer value or CETV (cash equivalent transfer value)
- Understand how it might change over time
- Include different types of pensions - defined benefit (DB) or defined contribution (DC)
- Get a snapshot of your pension income in retirement
This estimate won't be as precise as a personal financial report, but it gives you a firm starting point. It can highlight whether a pension transfer is worth exploring further - or better left alone.
Compare UK pension vs. overseas transfer
If you're an expat, or planning to be, your pension options might include QROPS (qualifying recognised overseas pension schemes) or an international SIPP (self-invested personal pension). Our calculator can show how each might work for you:
- Compare projected income with and without a transfer
- See possible tax savings in your country of residence
- Weigh up charges and foreign exchange impacts
- Work out income drawdown strategies
More than just numbers
Transferring a pension isn't just about value - it's about control, flexibility, tax, and peace of mind. Our calculator means you're better equipped to weigh up your options before speaking to a financial advisor.
Helpful extras:
- Customisable assumptions (like inflation or investment growth)
- Guidance on what kind of advice you'll need for a regulated transfer
- Explanations of pension terms you might not know
Remember, any final decision should involve a regulated advisor, especially for defined benefit pension transfers or large pots.
Summing up
Our transfer calculator is a powerful first step on your journey toward better retirement planning. It doesn't replace professional advice, but it gives you the clarity to start conversations about your pension and ask the right questions.
Frequently Asked Questions
Is the pension transfer calculator accurate?
It gives a close estimate based on the information you provide - but it's not a substitute for a regulated financial valuation. Think of it as a helpful guide to start planning and understanding your options. Always speak to a pension transfer specialist before making a decision, especially with defined benefit (final salary) pensions.
Can I use a calculator if I have multiple pensions?
Yes, our calculator lets you enter more than one pension pot, including defined contribution and defined benefit pensions. This can help you get a more complete picture of your total retirement savings and how they might work together, whether you keep them in the UK or transfer to an overseas scheme.
Do I need to be living abroad to use one?
Not at all. Even if you're only considering moving abroad one day, our pension transfer calculator can help you compare the benefits of keeping your pension in the UK versus transferring it. It's also useful if you're consolidating pensions or looking at tax planning for retirement.
Will the calculator show potential tax savings?
It gives you an estimate based on your country of residence and any double taxation agreements with the UK that apply. It's not the final word, but these projections can highlight how transferring your pension might affect your net retirement income. Just keep in mind tax rules vary, and advice is essential.
What details do I need to put into the calculator?
You need to know the details of your scheme to get an accurate pension transfer value. This includes your retirement age, how your pension benefits are calculated and if they're inflation-linked, and any lump sum options or spouse benefits. These will depend on your specific pension scheme rules. Without this information, you'll only get a broad estimate of your pension fund's value.
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Overseas Pension Transfer | Money Saving Advisors
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