Retirement calculator

Input your information in the box on the left and click through the steps to see how joining the Morrisons Retirement Saver Plan helps you.

The retirement calculator is designed for colleagues who contribute 5% of their Pensionable Pay for an overall 16% of Pensionable Pay guaranteed by Morrisons.   

Last Updated: 23/3/2015
  • ·Your basic pay:
  • ·Your gender:
  • ·Date of Birth: / /
View assumptions Help
  • Step 1
  • Step 2
  • Step 3

  4 Weekly Year

The amount you pay into your retirement pot: £0.00 £0.00

Balance guaranteed by Morrisons: £0.00 £0.00

Total: £0.00 £0.00

This means that for each £0.00 you pay every 4 weeks £0.00 is paid into your
retirement pot

  • The amount
    you pay:
  • Tax relief*
    means you save:
  • So you will only
    end up paying:

* This figure assumes you are a UK tax payer at the normal rate (20%)

£0.00 Plus the amount
Morrisons guarantees:

£0.00 Your 4-weekly total:

£0.00 Your annual total:

· Retirement age

· Retirement age Click and drag the slider to adjust retirement age.

  • 55
  • 60
  • 65
  • 70
  • 75
  • Retirement pot: £0.00
  • Yearly retirement income: £0.00
  • One-off
    cash sum:

· How much is paid into your retirement pot?

The figure below shows the amount of money that you and Morrisons will pay into your retirement pot between now and your selected retirement age. If you choose not to join the Retirement Saver this is the potential amount of money you could miss out on.

The figure is different from your potential retirement pot as it does not include any increases for inflation that you will receive each year.

What you and Morrisons would pay into your retirement pot from now until your chosen retirement age:

I want to pay more
I have read the assumptions


Please be aware the figures produced from the retirement calculator are indicative only and do not constitute an entitlement to benefits from the Morrisons Retirement Saver (“the Retirement Saver”). The retirement calculator should be used as an estimate of the amount you will pay and could receive from the Retirement Saver on your retirement only. You should not use the retirement calculator as your sole retirement planning method, instead you should contact an independent financial adviser for help with your retirement planning.  

The retirement calculator is not designed for enhanced members, but you can use this as an indication of the benefits you might build up in the Retirement Saver.

We have used the following assumptions for the retirement calculator:

  • You will make contributions of 5% of your pensionable pay to the Retirement Saver while you are an active member of the Plan, with an overall 16% of your pensionable pay added to your retirement pot for each year you are an active member.
  • You will use your saving in the Retirement Saver to buy an annuity at age 65 (the Retirement Saver's normal retirement age).
  • Your retirement pot will be revalued in line with inflation each year. The inflation increase is currently based on the consumer prices index (CPI) up to a maximum of 2.5%. For the purpose of this calculator we have assumed that CPI is 2% a year. A different prices index may be adopted from time to time.
  • Any early retirement factors applied to your retirement pot will be a 4% reduction for each year before age 65. Morrisons sets the early retirement factors and will vary them from time to time so they may be different to the amount shown in this retirement calculator.
  • Your salary will not increase.
  • Any tax relief is calculated at the basic rate of tax (20%). If you pay higher rate tax then you may receive further tax relief on your contributions to the Retirement Saver.
  • Tax bands are based on rates in the 2012/13 tax year.
  • The cost of buying any annuity is based on standard annuity rates at April 2012. We have also assumed an annuity charge at retirement of £160. This amount would only be deducted from your benefits if you chose to use the Plan administrators' service for selecting an annuity at your retirement.
  • The figures are shown at ‘today’s prices’ meaning your retirement pot figures are discounted for future inflation.
  • Morrisons' contributions are indicative only.

The total amount paid into the pot may exceed your final retirement pot if you choose to retire before age 65 due to the early retirement factors applied. In other words, because an early retirement factor may be applied if you take your retirement pot to buy an annuity before your normal retirement age (normally 65), this could mean your pot is less than what you have paid into the Retirement Saver.

If you require any further details about the assumptions used in this retirement calculator please contact the Retirement Saver Administrator.

Close window


The retirement calculator is designed to show you how much your retirement pot will grow by and how much you may receive at retirement from the Retirement Saver. The retirement calculator estimates your retirement pot assuming you join the Retirement Saver today.

In order to determine this we need to know a few details about how much you earn and your current age.

  1. fill in your basic pay details in the boxes on the left side of the screen. You can put in your hourly rate, weekly, 4 weekly, monthly or annual pay. If you choose hourly or weekly you will need to put in the number of hours you work as well.
  2. select your gender and fill in your date of birth. You can input this in the boxes or use the calendar which appears when you click into the date of birth box.
  3. the retirement calculator will automatically populate to show you the amount that goes into your retirement pot. You can click on the step 2 and 3 buttons to see how much it costs you and how much you will get at retirement.
  4. On step 3 you can change your retirement age to see how this will affect your estimated income at retirement. Simply move the slider to the age you would like to retire.

If you need any help or have any questions about the Retirement Saver you can contact the Retirement Saver Administrator on 0845 6000 353.