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Retirement savings calculator

Retirement savings calculator

Use this calculator to work out what your retirement savings will be worth by the time you retire and estimate how long those savings will be able to provide the pension you want in retirement.

The tool assumes you will invest your savings in an investment-linked living annuity and draw your retirement income from it. Buying a guaranteed or life annuity with all or part of your savings may change this outcome and will secure you an income for life.

The tool is designed to allow you to test different scenarios to improve your income in retirement by:

  • Retiring at a later age;
  • Saving more each month;
  • Drawing a lower pension at retirement.

 

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Calculate your retirement needs

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Disclaimer

Retirement savings calculator

You will reach retirement at age:

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By then your savings will be worth:

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This is the projected value at retirement, but given inflation, it may not be worth as much as it is in today’s rands.

Which in today's rands equates to:

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This is the projected value at retirement, converted back into today's rands. 

Your savings will runout by:

Drawing a monthly income of:

You will be aged:

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Warning: Your savings will run out within {numberofyears} years which is below the 30-year time horizon you should plan for in case you enjoy longevity in retirement. You may be willing to take this risk if you are in ill-health or have other savings.
See how long your savings will last if you save more, retire later or take a lower pension. You can edit the fields above and click "Recalculate".

Well done: Your savings last {numberofyears} years which is beyond the 30-year time horizon you should plan for in case you enjoy longevity in retirement.
If you want to test how long your savings will last if you change your contributions, retirement date, costs or the pension you take, edit the fields above and click "Recalculate".

 

 


Remember this, when you view the results

  • This is a guide only: This calculator is offered as a guide only to give you insight into how your savings may grow and how long your savings could support a particular income level.

  • The calculator uses average unit trust returns: The results are based on the average returns of the all the funds in the relevant unit trust fund categories representing the different investment strategies. You can choose to use returns over the past 10 or 20 years.

  • Past performance is no guarantee of future performance: The returns you actually earn may be very different to those delivered in the past. You will not earn the average annual returns of all the funds in a unit trust category and you will not earn an average return each year throughout your retirement. Instead, you may earn a high positive return one year and a negative return the next. This volatility or the order in which you earn returns can have a significant impact on your how the income you draw in retirement affects your savings and the length of time your savings will support your income. 

  • Life expectancy: This calculator assumes you will use an investment-linked living annuity to provide an income in retirement, where you take the risk of your savings lasting for your life expectancy. You do not know how long you will live and should therefore plan for the longest life expectancy - around 30 years if you are retiring at age 65. 

  •  Get advice: It is best to determine appropriate savings and income drawdown levels after comprehensive financial advice that takes into account your personal circumstances and provides a full explanation of all the risks. This calculator’s projected outcome should not be used in place of financial advice.

Disclaimer