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Pension calculator

This calculator

Disclaimer

This pension calculator is designed to give a broad indication of the level of contributions required to provide you with your desired pension in retirement. The calculator has to make certain assumptions in order to produce an illustration of your pension. Please read these assumptions in conjunction with your results. Your actual pension in retirement will depend on the actual investment returns and salary inflation up to retirement as well as the cost of providing your pension at your retirement age. The figures produced are illustrative only. You should discuss your pension with your financial advisor if you require accurate figures having regard to your personal circumstances.

The next step is to talk to your employer, trade union, bank, insurance company, building society or financial advisor about your pension today.

allows you to estimate the contributions you should be paying to your pension to provide your Target Pension in retirement.
    2. €
      You must enter your gross annual salary
    4. %
      or
      €
      You must select a value higher than €14,420

    The calculator assumes that your retirement fund pays an annual management charge of 1% per annum. In addition, a 5% contribution charge is assumed to be paid on each regular contribution (based on standard PRSA fees and charges maximum limits). You should contact your pension provider to confirm what charges you are actually paying as these can have a significant effect on your retirement fund which determines your retirement income.

    Revenue currently allows individuals to take a lump sum from their pension on retirement subject to Revenue limits. This lump sum will be funded by reducing your annual pension in retirement.

    Projected value of existing fund at age €

    Projected accumulated employer contributions €

    Projected accumulated employee contributions €

    Projected accumulated government tax relief savings €

    Total Projected Pension Fund Value €

    This projected pension fund could be used to provide an estimated annual pension of €

    Results

    Important note:

    The annuity rate used in the calculations is based on market annuity rates as at 1 May 2016. The actual annuity rate at retirement may differ from the annuity rate used in your illustration.

    All figures shown above are in present day terms

    Based on the assumptions used by this calculator, you are not expected to meet your target pension of p.a. in retirement.You need to increase your contributions to of Salary a year in order to meet your target pension. Alternatively, you could consider reducing your target pension in retirement or retiring at a later age.

    See below your additional contribution requirement to meet your target pension depending on the age at which you start contributing.

    You should keep your contributions to your pension under regular review.

    You have exceeded your target pension of p.a. in retirement. You may wish to consider reducing your contributions by a month. Alternatively, you may wish to increase your target pension or retire earlier than currently intended.

    You should keep your contributions to your pension under regular review.

    Based on the assumptions used by this calculator, you are currently making sufficient contributions to meet a Target Pension of p.a. in retirement.

    You should keep your contributions to your pension under regular review.

    Additional contributions required to provide your target pension in retirement

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