How the changes could add up

If you increase your total pension payments from x% to x% your pension pot could increase by:

Lower growth


Medium growth


High Growth


The figures are for illustrative purposes only. They are not guaranteed. Remember, the value of investments can go down as well as up.

How much more you may get from increasing your payments will depend on a number of things:

  • How long you pay into your plan
  • How your pension investments grow
  • Our charges.

Find out how we have calculated these figures and see what growth rates we have assumed.

Change your answers

What you should do next?

You may be surprised how paying a little extra in your pension can make a big difference when you retire. But before you do this, you might want to think about how much more you want to pay in and whether your employer will be matching or increasing their payments too. Then think about when you want your extra payments to begin.

If you want to pay more into your pension, please get in touch with your employer.

  • Using the information you’ve provided, we’ve assumed the following in the calculation;

    We have assumed your pension payments are invested in funds typically used by our workplace pension schemes customers, and that investments will grow each year at:

    A lower growth rate of 0.5%*
    A medium growth rate of 2.5%*
    A higher growth rate of 5.4%*
    *The figures in this illustration are shown in real terms, meaning they take account of the effects of price inflation, which we have assumed to be 2% each year. Price inflation reduces the worth of savings and investments over time.

    Your pensionable salary will increase each year at:

    Low Salary Inflation of 1.5%
    Medium Salary Inflation of 3.5%
    High Salary Inflation of 5.5%
    We have assumed that the payments you’ve entered are paid each month to your pension until your selected pension age. We’ve assumed you attained your current age at today’s date, and that payments will be made for full years to your chosen retirement age.

    Other companies may use different growth rates for their illustrations and charges may vary.

    Your final fund value and benefits payable could be more or less than shown. The benefits may be less than the payments made.

    The actual charges that apply to your plan may be higher or lower than those we have assumed and will depend on the investment approach, plan terms or funds you choose.

    You can contact us for a personalised illustration, based on your own individual investment choices and product charges, showing how the change might affect you.

Employees and members

Joining a company pension means you'll have your own pension pot when you decide to take your benefit (on top of state pension).

Find out more

Not sure where to start?

If you don’t know what to do about retirement or pensions, let us help. We’ll explain the basics and give you all the information you need to get started.

Retirement explained

Combine your pensions

Got more than one pension? Then you could think about putting them all in one place. Combining your pensions with Scottish Widows is simple and we won't charge you for this service.

Pension transfers