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Pension Calculator

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What is a Pension Plan Calculator?

Retirement only means that your regular salary stops. This doesn’t mean that your expenses stop. This is why the earlier you plan for your retirement the better it is.As time progress, goods and services become expensive with growing inflation. This in turn reduces the buying power of the money you have. Using a pension calculator can show you how much money you would require after retirement.A pension calculator can also help you to understand, how much money you need to invest towards your achieving your retirement plan. Depending on the frequency of your contribution and the amount that you invest over time, the pension calculator will help you calculate the lump sum amount that you can get when you retire.

How does a Pension Calculator work?

Let us understand how a pension calculator works with an example.
Meet Ravi
35 year old
He wants
to retire when he reaches 60 years of age. He has ₹20 lakhs saved in bank fixed deposits. His current monthly expenses amount to ₹55,000 per month.
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Benefits of using Online Pension Plan Calculator


Simplicity and ease of use:

Using a pension calculator does not require you to have technical knowledge. It is a simple and easy tool to use. All you need to do is fill in the details as applicable or suitable to your needs and you can understand the amount you can save up after retirement.

Helps in Retirement Planning:

Understanding the amount that you would require for your retirement is important. The pension calculator helps you in planning your retirement if your current savings and investment fall short of your requirements post-retirement. This ensures you can take the necessary steps to secure your future.

Explore the available options:

A online pension calculator can be used to make sense of the various options available and their implications on the amount that you will receive post-retirement. This helps you to choose the pension plan that suits your retirement needs the best.

Free of Cost:

A online pension calculator is free to use. You can thus calculate the amount that you can receive from the options available. You just need to enter a few details that are required and the pension calculator will give you the values depending on the options selected

Simple steps to use ICICI Prudential's Pension Calculator

Enter your details like current age, expenses, retirement savings etc.
Calculate your monthly expenses post retirement, income gap etc
Choose a plan based on your needs for a hassle-free retirement
The online pension calculator can help you plan for your retirement in a detailed manner. It removes all scope for error and misjudgement and ensures that you are able to plan well for your future.

Frequently Asked Questions

What are 'current expenses' in the pension calculator?
Current expenses include all your present day-to-day expenses, such as rent, groceries, fuel, electricity, health insurance premiums, travel, and more. This is the sum total of your monthly expenditure or the amount of money you spend on utilities and other needs and wants during a typical month.