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 aren't 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, and 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. Our fuller guide to self-employed pensions walks through the options.
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.
Common questions
Does this calculator include tax relief?
Yes. It adds 20% basic-rate relief at source to your monthly contribution, so a £300 payment is treated as £375 invested. Higher-rate taxpayers can claim further relief through Self Assessment, which isn't shown in the result.
How much should I pay in?
There's no fixed rule, but a common guide is half the age you started saving, as a percentage of your profits. Because there's no employer contribution, your own percentage needs to be a bit higher than an employee's. Starting small still beats not starting.
Do the self-employed get employer contributions?
No, which is why this calculator assumes only your own contribution plus tax relief. If you run a limited company, the company can pay in as an employer, which is often more tax-efficient and worth an accountant's advice.
Can I still get the State Pension?
Yes, if you keep up your National Insurance record through Self Assessment. The projection adds the full new State Pension of £12,548 a year on top of income from your pot, assuming a complete record and that you've reached State Pension age.
Sources
- Pension tax relief (relief at source, 20%) and £60,000 annual allowance: GOV.UK / HMRC.
- Full new State Pension £12,548 a year (2026/27): GOV.UK, The new State Pension.
- Minimum pension age 55, rising to 57 from 6 April 2028: GOV.UK.
- Projections use Pension Sprout's own model (compound growth in today's money). Illustrations only, not guarantees. Correct as of July 2026.
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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.