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Pension Drawdown Planner

How much you can draw, how long it lasts, the tax you'll pay – and what's left for your family

£20
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Pension Drawdown Planner

Overview

Once you stop work, your pension pots, State Pension, any final salary pensions and your ISAs have to last for the rest of your life – which could be 30 years or more. This planner works out, year by year to age 100, how much you need to draw from your pensions and savings to give you the income you want after tax, how much income tax you'll pay, when (or whether) the money runs out, and what could be left for your family. It handles one person or a couple, spending that changes as you get older, tax-free cash taken up front or bit by bit, and whether you use your ISAs or your pensions first. Everything is shown in today's money, so a figure in 2050 means what it would buy now.

Price
£20
Who it’s for
Personal Finance
Works with
Microsoft Excel for Windows and Mac
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See how it works

A walk through the main sheets

The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.

Step 1

Your Plan

Target income and spending phases, one-off costs, tax-free cash, drawing order, inflation and scenarios. What you do: fill in the yellow cells.

Your Plan
Projection

Step 2

Projection

The year-by-year plan to Person 1's 100th birthday, with key results underneath. What you do: nothing to enter.

Step 3

Scenarios

Good, average and poor returns side by side with two charts. What you do: nothing to enter – change the rates on Your Plan.

Scenarios
Annuity

Step 4

Annuity

What happens if you use your pots to buy annuities instead of drawdown. What you do: enter an annuity rate and type.

Who it is for

Made for people like you

  • Example – text
  • People approaching retirement – A clear picture of whether your pots will give you the income you want, and for how long.
  • Couples – Both people's pensions, State Pensions and tax worked out separately, with one household budget.
  • People already in drawdown – A check that your withdrawal rate is sustainable, plus good, average and poor scenarios.
  • Anyone weighing up an annuity – A side-by-side comparison of drawdown with buying a guaranteed income.
  • Families thinking about inheritance – What could be left, with unused pensions counted for inheritance tax from 6 April 2027.
  • WATCH OUT – This planner is for illustration and education only – it is not financial advice. Projections depend on your assumptions and are not guaranteed; investments can fall as well as rise and drawdown can run out. Pension decisions are often hard to reverse: speak to a regulated financial adviser, and use the free, impartial Pension Wise service from MoneyHelper if you're 50 or over.

Quick start

Up and running in minutes

  1. Example – text
  1. Your Details – about you – Choose 'Couple' or 'One person', the tax year the plan starts and whether you pay Scottish income tax. Then for each person: name, age, the age you'll stop work, the age you'll start drawing your pensions, State Pension age, State Pension forecast and any tax-free cash already taken.
  2. Your Details – the tables – List every pension pot, any other income (final salary pensions, annuities you already have, part-time work) and your ISAs and savings.
  3. Your Plan – Set the income you want after tax in your go-go years and how it changes later, add any one-off costs, then choose how to take your tax-free cash, which pot to draw first, inflation and the scenario to show.
  4. Dashboard – Read the tiles and the eight checks – red 'Action' and amber 'Check' items are the ones to look at first.
  5. Scenarios – See how the plan holds up if returns are good, average or poor.
  6. Annuity and Inheritance – Compare buying an annuity, and see what could be left for your family and the tax on it.
  7. Projection – Look at the year-by-year detail if you want to see exactly how the money moves.

Key features

  • For one person or a couple: pension pots, State Pensions, final salary pensions, part-time work and ISAs, projected year by year to age 100 in today's money.
  • Spending phases (go-go, slow-go, no-go) and one-off costs; tax-free cash up front or 25% of each withdrawal within the £268,275 lump sum allowance; pension-first or ISA-first.
  • Income tax worked out for each person with frozen thresholds, the £10,000 money purchase annual allowance check, withdrawal rate vs a sustainable rate, and when the money runs out.
  • Good, average and poor return scenarios, an annuity comparison, and what's left for the family with pensions in the estate for inheritance tax from 6 April 2027.

What’s included

  • Dashboard – Tiles, checks and charts
  • Your Details – People, pension pots, other income and savings
  • Your Plan – Target income, strategy and assumptions
  • Projection – Year by year to 100
  • Scenarios – Good, average and poor returns compared
  • Annuity – Drawdown vs buying an annuity
  • Inheritance – What's left and the tax on it
  • Scenario Workings – The three scenario projections
  • Tax Rates – Income tax, pension and IHT figures
  • Guide – How to use this workbook

How buying works

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First Floor, Unit D2, 4 Neptune Park, Plymouth, PL4 0SJ
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01752 42 72 82
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Registered Address: First Floor, Unit D2, 4 Neptune Park, Plymouth, United Kingdom, PL4 0SJ. Company Number: 12747461