To be able to calculate your retirement income for your Forecast tool, we’ve had to make some assumptions:
That your pension will grow at 5% each year, because of the way it’s invested. This 5% growth is after our 0.75% fee has been taken, but your fee will depend on the total value of your pension
The total value of your fund adjusts for inflation at a 2.5% rate
That your monthly contributions will continue, at the same amount as they are, until your selected retirement age
That tax relief for pension contributions will stay the same as it currently is
That your income in retirement is shown before any income tax liability.