Pension calculators can be very useful tools in a variety of situations. For example, if you have received a forecast for your State, individual or occupational pension plan, you may be worried that the amount you have estimated to receive is not as much as you have hoped for. In this case a pension calculator can really help you! The idea of pension calculator is simple - you have to type in how much you would like to receive each month when you retire, and the calculator will show you how much you will need to contribute each month to achieve your goal. However, if you already have an amount in mind that you can afford to put away to your pension fund, the calculator can also show you what you should expect to receive when it comes to retirement.