Pension drawdown calculator
Enter your pot, the income you want to take and an assumed growth rate to see how long the money lasts and at what age it would run out.
How this is calculated
Each year the withdrawal is taken first, then what is left grows at your rate, then next year's withdrawal rises by your increase.
The pot runs out in the year it can no longer pay the full withdrawal. If it still has money after 60 years, it is treated as lasting indefinitely.
Figures are before tax. Drawdown income is taxed as income, apart from any tax-free cash.
Rates used · 2026/27
| Withdrawal timing | start of each year |
| Growth | your assumption, after charges |
| Tax | income tax applies to withdrawals |
| Common starting rate | around 3% to 4% of the pot |
Last checked July 2026. Source: HMRC and gov.uk.
Worked example
Taking £15,000 a year from a £300,000 pot, rising 2% a year, with 4% growth, the money runs out at about 93 after 26 years of withdrawals, having paid out £480,526 in total.
Common questions
How long will my pension last?
It depends on how much you take, how fast it rises and how the investments perform. Enter your figures above and try a lower growth rate to see a cautious case.
What is a sustainable withdrawal rate?
Many plans start at 3% to 4% of the pot a year. Taking more makes it more likely the money runs out in later life.
Should I buy an annuity instead?
An annuity pays a guaranteed income for life, so it cannot run out, but you give up the pot. Many people combine the two.
Does the State Pension count?
It is separate and not included here. Taking it into account usually means you need to draw less from the pot.