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What could I get?

If  you’ve come to this page then you’re interested in learning how much you could expect to receive when you take your money out of NEST.

Our pension calculator takes into account NEST’s unique way of investing. Because of this, it provides the most accurate estimate of how much your money might be worth when you reach retirement. 

It also shows you how different options, such as taking a tax-free cash lump sum or sharing the money you will receive with your spouse or partner, could affect your pension. This will help you better understand what you’re likely to get and the kind of retirement you can hope to enjoy.

Use the NEST pension calculator

While the NEST calculator is as accurate as it can be with the information we have, there are a number of things that could alter the exact sum you’ll get. Some of these are under your control, such as the amount of time you save and the contributions you make. Some of them aren’t, like the contributions your employer makes and how much your retirement pot grows through investment.

The calculator is based on NEST Retirement Date Funds (the default funds that NEST members are placed into, based on your retirement date). You can read more about how we calculate your pension estimate here.

Money Advice Service pension calculator

The NEST calculator is designed for those who only have a pension with us.

If you have multiple pensions and want to work out how much you’re likely to get when you retire, it’s worth trying the Money Advice Service pension calculator as it takes into account all of your savings and pension pots.

It’s never too late

Calculating your pension estimate might have reassured you or you might feel concerned that you haven’t done enough to secure the future you want. But there’s no need to worry as it’s never too late to change your prospects.

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Our assumptions

  • The values in your pension estimate don't guarantee the amount that's in your future retirement pot or the amount of income you'll get when you take your money out of NEST. These are estimates only and what you get at retirement could be more or less than the value shown. 
  • All values have been calculated in terms of today's money. This is to give you an idea of how much you'd be able to buy with your retirement income if you got it today. 
  • The amount of retirement income will depend on the interest rates and the cost of buying it at the time you retire. 
  • This is how we've estimated the amount you might get when you take your money out of NEST:
  • contributions from you, your employer and any tax relief will increase in line with inflation in the future 
  • you're a basic rate tax payer and you'll get basic rate tax relief on your contributions 
  • all your contributions are invested in a NEST Retirement Date Fund that's in line with your NEST retirement date 
  • NEST's contribution charge of 1.8 per cent is made on all your future contributions. This includes your employer's contributions and tax relief 
  • each year NEST's annual management charge (AMC) of 0.3 per cent is taken off your NEST retirement pot 
  • at retirement, you'll purchase an income for life from a retirement income provider 
  • your retirement income is paid to you by the provider at the end of each month 
  • your retirement pot will grow as fast as inflation and all NEST charges. On top of this your pot will grow between 2 per cent and 3 per cent per year on average. The exact amount depends how far you are from retirement. This is in line with the objectives of NEST Retirement Date Funds. If you're very close to retirement the growth figure will be lower. 
  • the inflation rate is 2.5 per cent a year 
  • the cost of getting an income from a retirement income provider is based on assumptions about the interest rate and life expectancy the provider may use when you retire: an interest rate of 3.7 per cent per year for a retirement income that doesn't increase with inflation 
  • an interest rate of 0.2 per cent per year for a retirement income that increases each year with inflation 

 

  • Please note that this estimate doesn't allow for:
  • the impact of what's known as 'above inflation increases' on your wages or salary. An example of this would be a pay rise or promotion during your career which might increase the amount contributed to your NEST retirement pot 
  • the impact of tax on your future NEST investments and retirement income. For example, the illustration doesn't allow for income tax on your retirement income or the 'lifetime allowance' 
  • the impact of future changes in UK pensions and investment legislation on your NEST investment 
  • your own circumstances that might affect the way a retirement income provider works out your retirement income. For instance they might look at your state of health, where you live and whether you smoke. This might increase or decrease the amount of retirement income you get. 


From the end of 2012, UK retirement income providers have to give men and women the same rates for their retirement income. This estimate takes this provision into account. 

We'll review all these assumptions and we may update them from time to time.

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