Calculate your retirement income and pension benefits. Plan for retirement with accurate projections of your pension balance and monthly payments.
Contributions are fixed, benefits depend on investment returns
Financial experts generally recommend aiming for 70-80% of your pre-retirement income. This accounts for reduced work-related expenses while maintaining your lifestyle. However, your target depends on your retirement goals, health, and other income sources.
Contribute at least enough to get your full employer match, as this is essentially free money. Beyond that, aim for 10-15% of your salary total (including employer contributions). Start early and increase contributions gradually to build a substantial retirement fund.
Defined contribution plans (like 401k) have fixed contributions but variable benefits based on investment performance. Defined benefit plans (traditional pensions) promise fixed benefits based on salary and years of service, with the employer bearing investment risk.
Yes, inflation significantly impacts purchasing power over time. A pension that seems adequate today may not cover expenses in 20-30 years. This calculator shows both nominal and inflation-adjusted values to help you understand the real value of your future pension.