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Contractor Pension Calculator - Results

Calculations for Outside IR35. Change to inside IR35

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  • The tax man will fund up to 26% of a pension for you!
  • Your current monthly net pay is £2,539, and taxes are £648.
  • You can tax efficiently contribute up to £29,798 per year.
  • Using previous years allowances could allow you to invest up to £200,000.
  • For each £100 contributed, your take home pay only reduces by £73. The tax man pays the rest!
A tailored example for you
  • You contribute £1,000 per month for 35 years until retirement.
  • Your monthly take home pay will only reduce by £739.
  • If you retire aged 65 your total contributions will have been £420,000, costing you only £310,432 due to the tax reliefs available on contributions.
  • Assuming a 5% annual return on your investment, your pension pot will have grown to £1,138,035. You can withdraw a 25% tax free lump sum of £284,508. In effect you receive back 92% of the take home pay invested and have the remaining £853,526 invested to produce a future income stream.
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Broadbench is a contractor specialist who will offer you an initial meeting to assess your situation and needs. Broadbench