Cost of delay

Please ensure that there is a minimum of 10 years between the age you are now and the age you would like to retire. The normal minimum retirement age is 55.

These figures are based on a Stakeholder Pension and assume a yearly growth rate of 7% with fund charges of 1% each year. Your pension plans may grow at a lower or higher rate than 7%.

We've assumed that your contributions are level and don't increase in line with inflation over the time that you save.

Tax rules can change. The value of an investment is not guaranteed and can go up as well as down depending on investment performance (and currency exchange rates where a fund invests overseas). You could get back less than you invested.

Pension planning is a complex issue and you should see an IFA for personal financial advice. This is an educational tool only, an unadvised generic guide.