Would you be better off saving for retirement using the new Lifetime ISA or your pension plan?

£ Please enter a number Your gross annual earnings including any overtime, bonuses or other variable pay
The annual income you expect to receive in retirement
  • Less than £11,500
  • £11,500 - £45,000
  • £45,000 - £150,000
  • Over £150,000

The annual income you expect to receive in retirement is used to calculate the tax you will pay. The lower your retirement income is, the greater the bonus will be in your pension savings. Don't forget to consider all the types of income e.g. State Pension, Defined benefit, income from savings and rental income.

% Please enter a number The percentage of your salary that you save into your pension each month

Please alter your pension scheme settings if your pension scheme is not a Salary Sacrifice scheme, your employer contributes more than 1%, matches your contributions or shares NI savings.

An additional annual contribution of
£100 would give the same return from your pension as a LISA.


Your pension contributions could be above the Annual Allowance. We assume full tax relief, but where your contributions exceed the annual allowance, tax relief may be restricted. We recommend talking to an adviser.



You get a £0 bonus when saving £0 into a Lifetime ISA.

You get a £0 bonus when you put an extra £0 into your pension.

Breakdown of bonuses

Lifetime ISA

Additional investment = £0.00

Government bonus + £0.00
Total bonus £0.00


Additional investment = £0.00

Tax relief + £0.00
NI Savings + £0.00
Matched Employer Contributions + £0.00
Shared Employer NI Savings + £0.00
Pension Income Tax − £0.00
Total bonus £0.00

Pension Scheme Settings

The type of pension you have
  • Workplace - salary sacrifice
  • Workplace - net pay
  • Personal or Relief at source
% Please enter a number The percentage of National Insurance savings your employer shares ?
% Please enter a number Your employer’s initial contribution to your pension
% Please enter a number The percentage of your contribution that is matched by your employer (e.g. 100% = all)
% Please enter a number The maximum additional amount your employer will contribute to your pension ?

If you have a pension through your employer, this is a “Workplace Pension”. Your pension literature or your payslip will show whether or not your pension takes advantage of “Salary Sacrifice”, or whether your contributions are made via a net pay or relief at source arrangement.

If “net pay”, you receive tax relief at the highest rate of tax that you pay, and if “Salary sacrifice”, you and your employer will make additional National Insurance savings.

If personal or “relief at source”, your pension provides you with tax relief at the basic rate; if you are a higher rate taxpayer, we assume you claim further tax relief from HMRC.

When you contribute to a pension via a salary sacrifice, your employer will benefit from savings in National Insurance, which they may choose to share with you. If they do, enter the percentage of the savings that they share with you, e.g. 100% = all of it, 50% = half of it, etc.

Enter the maximum additional contribution your employer will make as a percentage of your salary. This will be added to your employer's initial contribution.