It's difficult to predict exactly how much your pension savings may be worth when you retire. There are many factors that could affect how your fund grows in the future. The amount you contribute is very important. Growth also depends on your investment choices and how they perform. Inflation will also have an effect on what your pension savings will be worth in the future.
The Money Advice Service pension calculator can help you understand how much money you might have in retirement.
This calculator makes assumptions about fund growth, inflation, and how your pension contributions will increase over time. You can find full details of all these assumptions at the end of the pension calculator.
Making regular contributions throughout your working life is the best way to ensure your pension grows. Setting a goal for how much income you'd like to have when you retire can help you decide how much to contribute now.