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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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Author Profile Written By:
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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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 Calculator

There are a lot of benefits of retirement planning using the retirement calculator.

● It helps with financial planning for your retirement

● It offers you a snapshot of how much you must save monthly to realise your dreams and goals post-retirement

● It shows you the retirement corpus you must build to lead a comfortable life in India

● It gives you an idea of the future value of your current expenses

Lastly, a retirement planning calculator also prepares you to save for additional expenses in the retirement stage

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

Frequently asked questions on Retirement Calculator

1 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.

2 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.

3 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.

4 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. 

5 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. 

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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: 101N092V13) 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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