What does the Pension Consolidation Calculator do?

Compare keeping multiple pension pots vs consolidating into one. See fee savings over time. All calculations are performed in your browser using official UK rates and thresholds.

Are these figures guaranteed?

No. Pension projections are estimates based on assumed growth rates and current contribution levels. Actual returns depend on investment performance, fees and future policy changes.

What is the pension annual allowance?

The pension annual allowance for 2025/26 is £60,000. This is the maximum you can contribute (including employer contributions) and receive tax relief. The allowance is tapered for high earners.

Pension Consolidation Calculator

Compare keeping multiple pension pots vs consolidating into one. See fee savings over time.

Last updated: April 2026 · Source: GOV.UK

Your Pension Pots

New Provider Fee (%)

Years to Retirement

Expected Growth (%)

Consolidation Saves You

£9,429.42

over 20 years (3 pots → 1)

Keep Separate (1.29% avg fee)

£58,098.58

Consolidate (0.5% fee)

£67,527.99

Disclaimer

This calculator is provided for informational purposes only and should not be considered as financial or tax advice. All calculations are performed locally in your browser — no personal data is collected or sent to our servers. Rates and thresholds are sourced from HMRC and GOV.UK and are updated for the current tax year. Always verify results with HMRC or consult a qualified professional before making financial decisions.

How It Works

Pension consolidation compares the total annual charges across multiple separate pension pots against the charges of a single combined pot. Each pot typically has a platform fee (0.2-0.5%) plus fund charges (0.1-1.5%), applied as a percentage of the pot value. Over 20-30 years, even a 0.5% fee difference compounds dramatically: on a £100,000 pot over 25 years at 5% growth, a 1.5% charge leaves £181,000 while a 0.5% charge leaves £261,000.

The calculation totals current annual charges across all pots using each scheme's fee schedule, then compares against the projected charges of the target consolidated scheme. Exit penalties must be factored in, particularly for older contract-based pensions that may levy early transfer charges of 1-5%. Some workplace pensions include valuable employer contribution matching or lower charges that would be lost on transfer.

Protected benefits such as guaranteed annuity rates (GARs), protected tax-free cash above 25%, or defined benefit entitlements require careful valuation before consolidation. The calculator flags pots with potential safeguarded benefits and estimates the monetary value of guaranteed features against the fee savings from consolidation.

Consolidating three pension pots into one SIPP

Pot A: £45,000 at 1.2% annual charge = £540/year in fees
Pot B: £28,000 at 0.9% annual charge = £252/year in fees
Pot C: £17,000 at 1.5% annual charge = £255/year in fees
Total current fees: £1,047/year on combined £90,000 (effective 1.16%)
Consolidated SIPP at 0.35% platform + 0.12% fund = 0.47%, costing £423/year — saving £624/year

Source: GOV.UK

Frequently Asked Questions

What does the Pension Consolidation Calculator do?: Compare keeping multiple pension pots vs consolidating into one. See fee savings over time. All calculations are performed in your browser using official UK rates and thresholds.
Are these figures guaranteed?: No. Pension projections are estimates based on assumed growth rates and current contribution levels. Actual returns depend on investment performance, fees and future policy changes.
What is the pension annual allowance?: The pension annual allowance for 2025/26 is £60,000. This is the maximum you can contribute (including employer contributions) and receive tax relief. The allowance is tapered for high earners.