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Calculator Assumptions

The assumptions we have used are:

  • Inflation : The Retails Prices Index (RPI) will rise by 2.5% a year until you retire. This assumed rate of inflation is used to calculate the value of your projected pension in real terms.

  • Salary Growth: Your salary will rise by 4.0% each year until you retire. This assumption allows for both a general inflationary increase and for promotional increases reflecting experience.

  • Membership: That you remain a contributing member of the Final Salary Scheme until age 65.

  • Normal Retirement Date: Your Normal Retirement Date is your 65th birthday.

  • Tax Rate :If you do not know your rate of income tax the Calculator will assume that you pay income tax at the basic rate, currently 20%.

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