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A big dilemma facing many individuals is whether to take their pension now, or delay taking it by a few years in the hope it'll leave them better off. It's impossible to know for sure as the answer depends on annuity rate movements and investment performance, both difficult to predict. However, this calculator should at least give you a feel for how delaying your pension could affect your longer term finances. For fair comparison we assume income from the earlier annuity earns the same return as the pension.

You can get current annuity figures to use in this calculator from the Money Advice Service website.

Pension Delay Calculator
Age you plan to take pension (Annuity 1) ? years old
Age you take pension if delayed (Annuity 2) ? years old
How do you want to enter annuity values? ?
Annuity 1 per £100,000 ? £
Annuity 2 per £100,000 ? £
Pension fund value at planned retirement age ? £
Expected annual investment return ? %
What is your sex?

Assumes a fixed annual return, in practice this may vary. Calculations based on assumed annuity rates, actual rates may well be different when you retire.


Go to Calculators Homepage.