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Pension calculator suggestions
wellsie82
Posts: 502 Forumite
Hi guys
I'm trying to figure out whether I'm saving enough for retirement & am trying to find a website where I can *accurately* list my existing pension arrangements.
At a high level my setup is as follows:-
SIPP which I contribute to monthly
Existing employer pension who pay in
Two old work pensions
The online calculators I've come across so far appear to only offer single fields to input "value of existing pots". I'm of the opinion that putting in a single total value (SIPP plus three work pensions (of which two/three might be defined benefits)) isn't very accurate.
Firstly, do others feel adding all my pots together (and thus disgarding any defined benefits) is accurate enough?
If not, can anyone suggest a site where I can add the extra details?
Many thanks.
Jason
I'm trying to figure out whether I'm saving enough for retirement & am trying to find a website where I can *accurately* list my existing pension arrangements.
At a high level my setup is as follows:-
SIPP which I contribute to monthly
Existing employer pension who pay in
Two old work pensions
The online calculators I've come across so far appear to only offer single fields to input "value of existing pots". I'm of the opinion that putting in a single total value (SIPP plus three work pensions (of which two/three might be defined benefits)) isn't very accurate.
Firstly, do others feel adding all my pots together (and thus disgarding any defined benefits) is accurate enough?
If not, can anyone suggest a site where I can add the extra details?
Many thanks.
Jason
0
Comments
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The online calculators I've come across so far appear to only offer single fields to input "value of existing pots". I'm of the opinion that putting in a single total value (SIPP plus three work pensions (of which two/three might be defined benefits)) isn't very accurate.
No calculator is accurate as there are far too many variables.
Growth rate, inflation etc are all assumptions that will likely be quite wrong. So, its best to use a single rate based on your asset classes that is a bit lower than expectation.
Defined benefit schemes should not be included but are much easier to work out.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Try the retire easy website. Costs a few quid a month.0
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No calculator is accurate as there are far too many variables.
Growth rate, inflation etc are all assumptions that will likely be quite wrong. So, its best to use a single rate based on your asset classes that is a bit lower than expectation.
Defined benefit schemes should not be included but are much easier to work out.
I know where you're coming from with regards to the volume of variables.
The fact you've suggested keeping the defined benefits separate has been very helpful - thank you.0 -
AnotherJoe wrote: »Try the retire easy website. Costs a few quid a month.
I've never heard of that. Can I pay for a few months to do analysis and then cancel? I wouldn't want an ongoing charge.0
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