Formula and calculation method
Annual pension = pensionable salary × service years × accrual rate.
Defined-benefit scenario only. Enter the scheme-specific accrual rate, eligible service and pensionable salary; caps and early retirement adjustments are excluded.
How to use pension calculator
- Set Pensionable annual salary. The example below uses 50000.
- Set Years of service. The example below uses 25.
- Set Annual accrual rate (%). The example below uses 1.5.
- Select Calculate to update the result. Reset restores the illustrated inputs. Copy, print or download your own result if you need a record.
Worked example
Example inputs
- Pensionable annual salary
- 50000
- Years of service
- 25
- Annual accrual rate (%)
- 1.5
- Annual pension estimate
- 18750
- Monthly pension estimate
- 1,562.5
Inputs and results explained
Pension Calculator takes 3 inputs. Fill each one using the same units and conventions, then select Calculate.
- Pensionable annual salary: a number of 0 or more. The worked example uses 50000.
- Years of service: a number from 0 to 60. The worked example uses 25.
- Annual accrual rate (%): a number from 0 to 10. The worked example uses 1.5.
The result panel reports Annual pension estimate and Monthly pension estimate, so you can see the whole outcome rather than a single figure.
Factors affecting your result
Defined-benefit scenario only. Enter the scheme-specific accrual rate, eligible service and pensionable salary; caps and early retirement adjustments are excluded.
Changing pensionable annual salary changes the scenario being evaluated. Adjust one input at a time when comparing results, keep a copy of the assumptions, and compare values using the same unit and period. A precise arithmetic result does not make an uncertain assumption precise.
Frequently asked questions
How does the pension calculator work?
Annual pension = pensionable salary × service years × accrual rate.
What inputs does Pension Calculator need?
Enter pensionable annual salary, years of service, annual accrual rate (%). Read the unit labels; percentages are entered as ordinary percentages, not decimal fractions.
How should I interpret the pension calculator result?
Defined-benefit scenario only. Enter the scheme-specific accrual rate, eligible service and pensionable salary; caps and early retirement adjustments are excluded.
Are my pension calculator inputs uploaded?
No. The calculation runs in this browser. Favorites, recent tool names, theme and formatting preferences may be saved locally, but calculation inputs are not sent to a calculation server or stored by this website. Shared links do not include entered values.
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