Pension drawdown calculator - making your money last

How long will your money last in pension drawdown?

The ability to take income to suit your needs, combined with the possibility of your pot continuing to benefit from investment growth, has made pension drawdown a popular way for retirees to access their pension.

But unlike an annuity, which pays a fixed income for the rest of your life, there are no guarantees with drawdown - it's up to you to manage your investments and decide what is a sustainable level of withdrawals each year.

Our pension drawdown calculator helps you to get a better idea of how long your pension pot might last.

You can adjust how much annual income you want to take and investment growth to see what impact this has.

Are you ready to retire in 2026?

If you're aged 55 or over, the specialists at Destination Retirement can help you work out when you could retire and how you can turn your savings into a retirement income.

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Calculator assumptions

The investment growth assumptions are as follows:

• Low growth: assumes that once you retire, your investments grow at an average of 3.3% a year
• Middling growth (set as the default): assumes that once you retire, your investments grow at an average of 5.6% a year
• High growth: assumes that once you retire, your investments grow at an average of 7.5% a year