We use a number of assumptions to calculate how much your savings might be worth at retirement.

Investments across all your pensions are assumed to grow at a rate of 5% each year, with total fees on those pots charged at 0.68% per year.

We assume your salary increases by 2.5% per year until you reach retirement. Any contributions you make into your pension(s) are also assumed to increase in line with your salary.

If you choose to include the State Pension in your projections, this will add the equivalent of £9,340 to your income when you reach State Pension, which we assume is age 67.

All contributions you make into your Moneybox Personal Pension and workplace pension are eligible for tax relief from the government.

We have not taken into account the effect of inflation in your projected retirement savings. However, we have adjusted your retirement income for inflation.

Your total workplace contribution percentage applies to your full annual salary and includes contributions made by both you and your employer.