How the calculations work
A 2.84% interest rate is based on the best standard savings rate available in April 2018.
This assumes that you would switch your savings account each year to retain the same or similar rate.
*The pension rate used is 2%, which is the lowest return available. The current state pension age is 63 for women and 65 for men, but this is changing.
By 2026 both men and women will be able to retire at age 67, so this is the age we have used.
The price of coffee has not been adjusted for inflation over the time period. This calculator is for illustration purposes only and figures cannot be guaranteed.
If you have any questions about savings or pension contributions you are advised to see speak to a qualified financial advisor.
