To calculate your retirement income in the Forecast tool, we've made the following assumptions:
Your pension will grow by 5% each year based on the way it's invested. This growth is shown after your annual fee has been deducted. If you opened your pension directly with Penfold, this assumes our standard annual fee. If you joined through your employer, your annual fee may vary depending on your employer's arrangement with Penfold.
The total value of your pension adjusts for inflation at a rate of 2.5% each year.
Your monthly contributions will continue at the same amount until your selected retirement age.
Tax relief on pension contributions will remain the same as it is today.
Your retirement income is shown before any income tax is deducted.
These figures are illustrative assumptions to help you plan, not a guarantee of your actual retirement income. Real investment performance, contributions, tax rules and other factors will affect what you actually receive.