Pension calculator that DOESN'T assume increase in contributions
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newbiesaver55
Posts: 80 Forumite
Hello, can anyone tell me if there exists a pension calculator that DOESN'T assume your payments will increase by 2.5% annually or whatever, pls? Like many people we have small pots that aren't our main pensions and we won't ever add money to them... but the Age Concern and Standard Life calculators all assume in the fine print that you will add cash annually and that you will increase your £0 annual contribution by 2.5%...
(This leave aside the question whether or not its worth moving of course).
thanks
(This leave aside the question whether or not its worth moving of course).
thanks
0
Comments
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If your starting contribution is 0, the calculators should add 2.5% of 0 to that & still leave 0 contribution per month ?0
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Bolwin I had already considered this, but then thought I was probably wrong!0
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So... it's still useful to have a calculator for the other scenario in what I'm looking at where someone's max contribution due to tax reasons is £10k annually... but I'm stumped as to where to find the correct calculator...!0
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Not quite what you asked for but I use an online compound interest calculator, specify the starting amount, select a yearly increase (e.g 5%) and run
There is one here
https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php0 -
Agree with Prism, you don't need pension calculator, any compound interest calculator would do or indeed it would be trivial in a spreadsheet,0
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