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  1. Home
  2. Calculators
  3. Retirement Calculator

Retirement Calculator

Estimate the corpus you may need for retirement and the monthly savings that could help you get there. Figures are illustrative only.

years
1855
years
4570
years
6595
₦
50,0005,000,000
%
530
%
530
%
320

Estimated Monthly Expenses at Retirement

₦19,863,532

Estimated Monthly Savings Needed

₦857,873

Retirement Corpus Estimate

Total Investment
₦308,834,254
Estimated Growth
₦4,458,413,327
Required Corpus at Retirement₦4,767,247,581

Disclaimer

This calculator is for educational and illustrative purposes only. It does not constitute financial, investment, or tax advice. Results are estimates based on the inputs you provide and may not reflect actual returns. Consult a qualified financial advisor before making any investment decisions.

Frequently Asked Questions

Under the Contributory Pension Scheme (CPS), the standard retirement age is 60 years for public sector employees, and 65 for the judiciary. Private sector retirement ages vary by employment contract, typically ranging from 55 to 65.
The Pension Reform Act 2014 established the Contributory Pension Scheme (CPS). Employers contribute a minimum of 10% and employees contribute 8% of monthly emoluments into a Retirement Savings Account (RSA) managed by a Pension Fund Administrator (PFA).
Nigeria has experienced inflation rates between 10% and 30% in recent years. For long-term planning, using a range of scenarios (e.g. 12%, 18%, and 24%) can help illustrate potential outcomes. This calculator allows you to set the inflation rate to any value.
A retirement corpus is the total amount of money you need to have saved and invested by the time you retire. It should be large enough to sustain your desired lifestyle throughout retirement, accounting for inflation and investment returns.
Yes, the Pension Reform Act allows voluntary contributions above the mandatory 18% (10% employer + 8% employee). Voluntary contributions can be accessed before retirement (subject to conditions) and may improve your retirement corpus through additional compounding.

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