Calculators use independent mathematical assumptions that you choose. Research uses a selected Regular Growth scheme’s dated NAV history for retrospective analysis. A historical scheme return is never inserted into these calculators as a future return forecast. Branded PDF reports are available in the separate Research workspace.

Results depend on whether the annual rate is nominal or effective, whether money is added at the beginning or end of the month, how annual increases are applied, and how charges and inflation are treated. These tools state their method and show the underlying table so you can check the assumptions. Selecting an assumed return does not make that return likely or guaranteed.

It assumes constant returns before and after retirement, inflation-linked monthly expenses and no pension, extra income, tax, medical shocks, bequest or reserve beyond the last modelled age. Real retirement cash flows can be very different. Try different assumptions and allow for uncertainty before making decisions.