Retirement calculator: estimate your savings gap

Reading your result

The calculator takes the monthly spending you enter at today’s prices and inflates it to your first year of retirement, then works out the total needed at retirement for the whole retirement period, with spending rising each year in line with inflation. Separately, your current savings are grown at the pre-retirement return and added to your expected MPF; the difference is your gap, also shown in today’s money. It is an estimate, not a precise figure.

Inflation and return rates are adjustable, and “How this was calculated” lets you check each figure step by step. For a closer fit, adjust monthly spending, retirement age and life expectancy, then compare.

Assumptions and limits

• Defaults: 2.5% annual inflation, 3% return on savings before retirement and 2.5% during retirement (a 0% real return). These are assumptions, not guarantees or forecasts, and you can change them.
• First-year spending = monthly spending × 12 × (1 + inflation)^years to retirement.
• Savings needed assume withdrawals at the start of each year, spending rising with inflation, discounted to retirement at the in-retirement return.
• Enter MPF as the balance you expect at retirement; the calculator does not grow it further.
• Excludes tax, one-off medical or long-term care costs, government allowances, annuity income and specific product terms; life expectancy and spending vary by individual.

This tool is for general reference only, not personalised financial advice; verify actual figures with an advisor.