How our lump sum calculator can help you
See what a lump sum withdrawal would mean for your pension
Look at how any lump sum withdrawal would impact your remaining pension value and pension income.
Find out how much you can withdraw tax-free
You can take out up to 25% tax-free, and we'll work out how much you'd owe if your lump sum is more than this.
Make a plan for what to do next
To move forward with your lump sum withdrawal, choose one of the options after deciding how you'd like to take it out.
How our lump sum calculator works
Our lump sum calculator gives you an idea of what taking a lump sum would mean for your retirement. It works by you inputting some of the information on your situation now and what you want in retirement. Here are some of the key steps.
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Give us a few details about your lump sum
Tell us what you want the lump sum for, how much you want, and how much your pension is worth.
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See the impact on your pension
We'll then show you what to expect if you take out a lump sum. You can also change your lump sum amount to see the effect on your pension.
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Decide what to do next
Once you've reviewed the results, you can take the first step to taking your lump sum. If you're not ready, you can get more guidance from us or a financial adviser.
About the calculator
This calculator doesn't provide advice or recommendations. What you get when you retire will depend on how your investments perform.
Who is the lump sum calculator for?
This calculator was made with the following conditions in mind:
- You're aged 55 or over and live in the UK
- You haven't withdrawn money from this pension before
- Your plan doesn't have any safeguarded or protected benefits (for example enhanced tax-free cash or guaranteed annuity rates)
- You don't have any serious health conditions.
If your pension has safeguarded or protected benefits and you decide to take out a lump sum, it may impact these benefits.
If you have a serious health condition and have a life expectancy less than one year, you may be able to withdraw your entire pension tax-free. Contact us for more information and support.
Find the support you need
Find a financial adviser
We strongly recommend talking about your retirement options with a professional financial adviser.
Pension Wise
Pension Wise is a government backed service from MoneyHelper that offers free, impartial pensions guidance.
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