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Retirement Calculator

Retirement calculator is an easy to use online financial tool that helps you calculate the corpus you would need during your retirement. It takes into consideration factors such as income, investments and expenses to calculate your retirement corpus.


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Retirement is a phase of life that should be enjoyed to the fullest, minus responsibilities. But this can only happen if you plan for it wisely.

To help you understand how much to save for retirement, the retirement calculator is your best bet to plan your retirement. This helps you understand which retirement plan suits you the best. A retirement planning calculator will show up a precise amount that you need for your retirement years.

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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Calculate How Much Do You Need When You Retire

An online retirement calculator might be helpful in such a case. This online calculator lets you know how much money you'll need to put away each month to create your envisioned retirement fund. Entering your current age, expected retirement age, projected retirement corpus, and current savings into a retirement planning calculator yield this figure. The retirement calculator is available online and doesn't cost anything. You can use the online tool indefinitely to determine the most effective means of accomplishing this crucial life goal.

How Does a Retirement Planning Calculator Help You?

You can estimate and budget for possible retirement expenses with the help of a retirement planning calculator. Its potential benefits are as follows:


Your current age, anticipated retirement age, life expectancy, savings, expected investment returns, inflation, and desired retirement lifestyle are just a few of the factors that a retirement calculator can consider when estimating your financial requirements for retirement.


Based on your anticipated retirement expenses, the calculator can assist you in establishing attainable savings objectives. It can figure out how much you need to save regularly in investments, retirement accounts or any other kind of savings option in order to reach your retirement objectives.


Retirement income from various sources, including pensions, annuities, Social Security, and other investments, can be estimated using the calculator. It can estimate the amount of money you can expect to receive from different sources, which can help you plan for retirement with the most income possible.


The ability to account for inflation and projected investment returns over time is a great feature of a retirement calculator

What is a Retirement Planning Calculator?

The use of a retirement planning calculator makes it easy to ascertain the amount of money that will be required for retirement. You should prepare your investments in advance if you want to have a comfortable retirement fund. The retirement planning calculator is primarily designed for two purposes. It calculates your retirement corpus you'll need to retire comfortably and maintain your current standard of living.

The formula box of the retirement planning calculator allows you to enter your present age, your intended retirement age, your life expectancy, and the sum you will require monthly in retirement. You will also have to choose estimated inflation rate from 6% to 7% annually. Additionally, please specify if you have any retirement funds and the rate of return you expect from your investments.

You can use the retirement calculator to find out how much you need to save monthly, how much more to save annually, and how much post-retirement income you'll need in retirement to get the corpus you desire.

How does a Retirement Calculator work?

A retirement calculator is an effective tool that helps you determine the amount you need in your retirement in India. It allows you to plan much in advance and build a retirement corpus for the future. The retirement planning calculator has several benefits, the biggest being that you don’t have to compromise on your lifestyle after you stop getting a regular income. An online retirement calculator also gives you the freedom to realise your future dreams and goals without having to move from your chair!

Here’s how the retirement fund calculator works. It has a formula box where you key in your current age, your retirement age, life expectancy and the monthly income you require in your retirement. Besides, remember the best retirement calculator is a retirement calculator that considers inflation and other factors.

Go ahead and choose the expected inflation rate, the expected return on investment and also mention any funds you have saved for your retirement.

Once you fill in all the details, the retirement planning calculator will give you the annual income that you need for your retirement, any additional amount that needs to be saved for your retirement as well as the monthly savings that you must have to build your retirement corpus.

What is the retirement calculation formula?

Here’s an example that will help you understand this better.


Say you need Rs 35,000 every month to lead a comfortable lifestyle in your retirement. Your current age is 35 years and you plan to work until you turn 60.


Keeping the inflation at 6%, what is the retirement corpus that you require on investing your savings in an ULIP with an interest rate of 8% maturing between eighteen months and three years?

Here’s the retirement calculation formula to use:FV = PV (1+r)n


FV = Future Value.

PV = Present Value

= expected inflation at 6%

n = time left until retirement (60 years – 35 years) = 25 years.

FV = 35,000 (1+0.06)^25 = Rs 1,50,215.5

Now, this monthly figure needs to be converted into an annual figure

Multiply it by 12–Rs 150215.5 * 12 = Rs 18,02,586.

The annual income that you need post-retirement is Rs 18,02,586.

Note – The values used above are only for the purpose of the example

How to calculate your retirement corpus?

Income required in retirement = Rs 18,02,586
Retirement Period = 20 years (life expectancy of 80 years – age of retirement of 60 years)

Rate of return on corpus = 8%
Inflation= 6%

Inflation adjusted rate of return = (1+0.08)/(1+0.06) – 1

= 1.89%/12 = 0.001575.

Retirement period (in months) = 240 months

PMT = Inflation adjusted monthly income at retirement = 18,02,586/12 = Rs 1,50,215.

Thereafter, an excel calculator can help you calculate the retirement corpus, through the PV function.

Select Nper = 240 months and Pmt = 150215. Type = 1.

In a nutshell, you need Rs 3,00,48,832 to generate a yearly income of Rs18,02,586.

How to calculate Retirement Benefits using the Retirement Calculator?

The retirement calculator works on the principle of compound interest to help individuals understand more about the retirement corpus they would like to build in the future, based on their personal requirements.

Please consider these values solely for illustrative purposes:



Total monthly expense (in Rs)


Your current age(in years)


Your retirement age (in years)


Average life expectancy (in India)


Average inflation rate every annum


Existing investments for retirement (including EPF contributions)

Rs. 2,00,000



As per the formula of the retirement corpus calculator, this individual has 30 more years to retire, plus another 10 years considering the average life expectancy in India. In this case, they would need a retirement corpus of Rs 58.18 lakh after they retire, which means they will have to invest a minimum of Rs 3,878 per month to reach the estimate figure. The best retirement calculator in India will be one which allows you to figure out these amounts in an easy-to-understand manner.

How to use the HDFC Life Retirement Calculator?

The HDFC Life retirement planning calculator is an easy-to-use tool that gives you the annual income you need in your retirement in India, so that you have adequate time to build your savings. At the same time, the best retirement corpus calculator can help you maintain your lifestyle even in retirement.

Here is a step-by-step guide for using the retirement calculator:

1. Add your personal details, including your current age and when you plan to retire 

2. In the next step, add your income details including your annual income and income growth rate

3. Fill in your investment details in the online retirement calculator

4. Lastly, key in your expenses

Finally you will have the summary on the last screen.

The retirement planning calculator by HDFC Life shows you everything from the amount you need to fund your retirement, how much your current savings will grow to, and the additional amount you need.

Benefits of Using a Retirement Planning Calculator

retirement planning calculator can greatly assist in preparing for retirement financially. Let’s delve deeper into these advantages:


Financial Openness

You can better grasp your financial situation with the help of a retirement planning calculator. Utilising these tools, you can comprehensively understand your financial situation, encompassing your savings, investments, present and future income, and more. All this information in one spot makes comparing your current financial status to your retirement goals easy.


Making a Plan and Establishing Objectives

A retirement corpus calculator is a great resource for figuring out how much money you'll need to retire comfortably when you'd like to retire, and what kind of lifestyle you envision for your golden years. You can visualise these goals with their assistance because they show you how your savings and investments can cover your retirement expenses.


Evaluate the Current Situation

Retirement calculators can also run scenario analyses, which is a great feature. Try different "what-if" scenarios by adjusting retirement age, savings rate, investment allocation, and expected rate of return. Gain greater agency over your financial destiny with this handy tool showing how choices influence your retirement funds and outlays.


Assess and Manage Possible Risks

Retirement calculator in India makes it easy to assess and manage the risks associated with your savings and investment strategies for retirement by providing a quantitative measure of those risks. When making predictions about your retirement, investors consider market fluctuations, inflation, longevity, and the risk of a sequence of returns. This preventative measure will help you prepare for retirement by lowering your risk exposure.

How Much to Save for Retirement?

Estimated retirement savings, a critical background detail for a brilliant financial plan, is a vital activity. Applying may be difficult, but some general rules will be helpful. Here are a few commonly mentioned rules, along with some inflation factors to think about:

  • 10% Rule

    To ensure success when planning for retirement, the 10% rule means that savings of at least 10% of your income must be saved annually. This rule may be used to explicitly develop a savings habit in you by giving you an effective mechanism to save at the beginning of your career. Thus, you will have financial abundance to live in your old age if you save 10% of your income yearly.

    Sometimes, for instance, for individuals who have left family savings until their advanced years or those who aspire to obtain higher income after retirement and would like to know the precise percentage of money they need to put aside for that, the 10% rule might be thought to be not exact, however, it is an excellent point to start. You must regularly check your goals and plan to ensure they align with where you are going in your retirement fund.
  • 80% Rule

    The 80% principle establishes that on retirement, retirees will need to have about 80% income level that they had before they retire to maintain their standard of living comforts. You might cut your housing and transportation expenses, and after having lost some of the work-related care expenses like commuting, your overall savings will boost up once you retire.

    80% rule can be seen as just a general pointer that will help you to understand the more detailed formulas of how much revenue you will need to replace at the retirement stage, there are individual circumstances that could differ considerably. The elderly folks might need to retain more or less than 80% of their pre-retirement income; this depends on whether they will require new healthcare services, have some comfortable lifestyle, or would like to have particular retirement activities. 
  • 4% Rule

    The 4% rule is an oft-cited rule of thumb for retirement savings plans, assuring a draw-down amount that does not jeopardise sustainability. With this rule, provided the retiree does not blow his savings on a spread over 30 years, he can get a salary of 4% of his savings, adjusted for inflation, every year.

    The 4% rule is a reliable guide for income planning, which, when followed by retirees, can lead to precisely the end of the contradiction between temporary income and the necessity to keep the capital for a long time after retirement.

Impact of inflation on retirement savings

As time advances, the rise in inflation can ultimately lead to the malfunctioning of retirement funds. One has to examine how savings for retirement are to be funded both currently and in the future, as inflation is an important issue when planning to save for retirement, even though usually the amount of accumulated funds in retirement is the target figure.

In the case of inflation-imposed consequences on retirees, retirement plans and investment approaches would be more appropriate if they included inflation-adjusted growth assumptions.  Stocks and real estate have a history of outperforming inflation, so investing in them with your retirement funds will give you more purchasing power over time.

Another option for retirees looking to keep their income up with inflation is to consider inflation-indexed securities or an annuity. If you want your retirement savings to last, review your plans frequently and make changes depending on your expectations for inflation.

How to invest for early retirement?

How to invest for early retirement

If you plan well in advance, you can build up a healthy corpus that helps you retire much earlier than the norm. Some tips - draft a realistic budget, cut down on expenses, and invest wisely. These may not really beat inflation but can minimise its impact.

Let’s understand it better with an example. When you key in these details in the retirement planning calculator, you will know how inflation can impact your lifestyle in the future.

Say you have a current monthly expense of Rs 50,000. Assuming the inflation rate stands at 6%, the amount will be Rs 160,000 in 20 years and Rs 5.14 lakh in 40 years.

This online retirement calculator will help you understand how much money you need in retirement, so that you don’t have to struggle to make ends meet in the future. 

Retirement Plans by HDFC Life

Our top recommended solutions depending on age and goal

FAQs on Retirement Calculator

1 What is a retirement calculator?

By factoring in your age, income, expenditures, and investment returns, among other things, a retirement calculator can help you estimate how much money you will need to save for retirement.

2 How much money do I need to retire in India?

With inflation on a high and interest rates consistently dipping, it is imperative to have a sizeable retirement fund. According to financial experts, a minimum of Rs. 1 crore retirement corpus is essential to lead a comfortable life.

3 Why should you plan your retirement?

It is critical to prepare for retirement if you want to feel financially stable and comfortable in your years after work. In doing so, you will better plan for the future, save more, and maximise your retirement benefits.

4 Is Rs 2 crore enough to retire in India?

Every individual has different requirements for a comfortable retirement. As a ground rule, financial experts suggest that the retirement corpus must be at least 30 times your annual income.

5 Are retirement calculators accurate?

Retirement calculators are an effective tool that help you understand the amount you must save post-retirement. This is done by taking in personal details, information related to current income, savings as well as investments.

6 How to retire in 10 years?

If you want to retire in the next decade, start by reducing your spends and increasing your income. You could take up a side hustle to supplement your primary income. 

7 What is a good amount to retire with in India?

As a ground rule, financial experts suggest that the retirement corpus must be at least 30 times your annual income. 

8 How can retirement planning help with my future medical expenses?

You can prepare for future medical expenses by estimating their cost, researching coverage options like Medicare, and setting aside money during retirement.

9 Where should I invest my money after I retire?

One strategy to consider after retirement is to invest in a diversified portfolio. This will allow you to retain more of your hard-earned money, increase earning potential, and decrease risk exposure. Bonds, dividend equities, annuities, and cash could all be part of this portfolio.

10 How much of my retirement benefit is taxable?

Distributions from traditional accounts and Social Security benefits are often taxable, though this varies by account type and income level. Consulting a tax expert can provide you with personalised guidance.

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We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

  1. The word “Guaranteed” and “Guarantee” mean that annuity payout is fixed once the policy has been purchased.
  2. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.

HDFC Life Click 2 Retire (UIN No: 101L108V04, Form No: P501) is a Unit Linked Pension Product.

HDFC Life Guaranteed Pension Plan (UIN: 101N092V14) is a non-linked non-participating pension plan. Life Insurance Coverage is available in this product

HDFC Life Systematic Pension Plan (UIN:101N144V02) is a Non-Linked, Participating, Individual, Savings Pension Plan

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