Self-Employed Pension Calculator
No employer, no auto-enrolment, no one paying in but you. This calculator is built for that reality: enter what you can put away each month and see what it could grow into by the time you want to stop.
Your projection
Results update as you type. Figures in today's money.
Illustration only, not financial advice. Assumes basic-rate (20%) relief at source, contributions rising with inflation in real terms, and income from 4% a year drawdown plus the full new State Pension (£12,548 a year, 2026/27 rate) from State Pension age. Higher-rate taxpayers can claim extra relief. Figures correct as of July 2026.
Pensions when you work for yourself
Employees get pushed into a pension by auto-enrolment and get employer money on top. The self-employed get neither, which is why around three-quarters of self-employed workers are not saving into a pension at all. The tax system, though, treats you just as generously once you start.
Pay £80 into a pension and HMRC adds £20 through relief at source, exactly as it would for an employee. If you pay higher-rate tax, you can claim more back through Self Assessment. Pension contributions are one of the few genuinely good tax breaks available to sole traders. If you run a limited company, employer contributions from the company can be more efficient still; that one is worth an accountant's opinion.
Where to actually save
Without a workplace scheme, the standard home is a SIPP or a simple personal pension: you open it yourself with an FCA-regulated provider, set up a monthly Direct Debit, and pick something sensible like a global tracker fund. NEST is also open to the self-employed if you want the same scheme many employees use.
Irregular income? Contribute irregularly
Nothing forces you to pay in the same amount every month. A common pattern is a modest monthly Direct Debit topped up with a lump sum after good months or at year end, once you know what the tax bill looks like. Relief applies either way, up to 100% of your earnings or the £60,000 annual allowance, whichever is lower.
Three things worth knowing
- Your National Insurance builds the State Pension, not a private one. Class 2 and Class 4 contributions earn your State Pension entitlement, currently £12,547.60 a year at the full rate, but nothing beyond that. Everything above it is on you.
- Pensions beat cash for retirement money. The 25% top-up from tax relief is an immediate return no savings account matches, and growth is tax-free inside the wrapper. The trade-off is no access until at least 55 (57 from April 2028).
- Start small rather than not at all. The calculator above will show you what even £100 a month becomes over 20 or 30 years. Compounding rewards time more than size.
This calculator provides illustrations for general information only and does not give regulated financial advice. Figures are in today's money, are not guaranteed, and the value of investments can go down as well as up. Tax treatment depends on individual circumstances. Figures correct as of July 2026. For advice tailored to you, speak to a financial adviser regulated by the Financial Conduct Authority (FCA), or get free guidance from MoneyHelper.