Final Salary Calculator Assumptions
The assumptions we have used are:
Inflation : The Retail 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.
Normal Retirement Date: Your Normal Retirement Date is your 65th birthday.
Membership: That you remain a contributing member of the scheme until age 65.
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%.