Your Chest Score is a personalised indicator of how prepared you are for retirement. Here's how to get it and what it means.
What is the Chest Score?
Your Chest Score is a number that shows how on track you are for the retirement you want. It takes into account what you've saved so far, how much you're saving, and whether you're likely to reach your retirement goals.
How to get your Chest Score
You'll get your Chest Score during the onboarding process after creating your account. You'll answer a few questions about:
Your current pension pot (if any)
How much you currently contribute
Your salary
Your age
When you want to retire
Based on your answers, we calculate your score.
What the score measures
Your Chest Score is based on three components:
Existing Pot Strength How your current savings compare to what would typically be expected for someone of your age and salary.
Savings Habits Your current contribution levels and whether they're sufficient.
Future Outlook A projection of whether your current path will lead to the retirement income you need.
Projections
Along with your score, you'll see projections showing:
Your expected pension pot at retirement
Your estimated retirement income
These help you understand what your savings could grow to and what that might mean for your retirement lifestyle.
How projections are calculated
The way we calculate your projections depends on whether you've set up your Chest Pension:
Before setting up your SIPP Projections are based on assumed growth rates of 2%, 5%, and 8% per year, representing low, medium, and high growth scenarios.
After setting up your SIPP For assets held with Chest, projections are based on the 20th, 50th, and 80th percentile of rolling averages of historic performance for your selected fund. For any assets held outside of Chest (e.g., other pensions you've told us about but not transferred), we continue to use the 2%, 5%, and 8% assumed growth rates.
Your score updates
Your Chest Score isn't fixed – it updates as your circumstances change. As you contribute more, consolidate pensions, or update your information, you'll see your score change to reflect your new position.
Important information
Your Chest Score and projections are for illustrative purposes only. They are not a guarantee of future performance. Actual returns will depend on market conditions and the performance of your chosen fund. The value of your pension can go down as well as up, and you may get back less than you've contributed.
Still need help?
If you have questions about your Chest Score, contact us at hello@joinchest.com.