Retirement Phase Income Calculator

900 monthly state pension plus 1,400 private drawdown plus 500 rental income totals 2,800 a month or 33,600 annually. State pension covers 32% of total — a meaningful floor, but most households need substantial private income on top to maintain their pre-retirement lifestyle.

How to use it

Enter monthly income from each source. Leave any unused as zero. Use today's figures if both state pension and private figures are stated in today's units — don't mix nominal and real.

What the result means

Primary is total monthly. Secondary shows annual total, largest source percentage, and the state pension share. The state pension share is useful: households where it's 50%+ have less flexibility but also lower income risk; households where it's 10%- rely heavily on private savings performance.

Concentration risk

If one source (typically private drawdown) is 70%+ of total, retirement is exposed to that source's risk. Sequence-of-returns risk hits drawdown hard; annuities and state pension aren't affected. Diversification of sources reduces income risk.

A worked example

Try the defaults: state pension of 900, private pension drawdown of 1,400, other income of 500. The tool returns 2,800.00. You can adjust any input and the result updates as you type — no submit button, no reload. That's the real power here: seeing how sensitive the output is to one or two assumptions.

What moves the number most

The result responds to State Pension (Monthly), Private Pension Drawdown (Monthly), and Other Income (Monthly). The rate and the time horizon usually dominate — compounding means a small change in either reshapes the final figure more than a similar shift in contribution size. Test this by doubling one input at a time.

The formula behind this

Sum of all three monthly sources, with annual extrapolation and source-share analysis. Treats each source as constant-nominal. For full retirement projection including drawdown sustainability and inflation, use the Drawdown or Pension Pot Target calculators in combination with this income figure. Everything the calculator does is shown in the formula box below, so you can check the math against your own spreadsheet if you want.

The annual review habit

Plug new numbers in every year. Income changes, expenses shift, markets move. A plan that isn't revisited quietly drifts out of date. This tool is cheap to re-run — so re-run it.

What this doesn't capture

Real plans get re-run against new information every year or two. The result here is a reasonable direction, not a destination. It is a starting point for thinking, not a commitment to a specific future.