Pension Calculator
Calculate pension from your own entered figures.
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Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Calculate pension from your own entered figures. Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
How to use the Pension Calculator
- Enter or select final average salary.
- Enter or select years of service.
- Enter or select plan multiplier per year of service (%) — enter your plan's figure.
- Enter or select years you expect to draw the pension.
- Read the calculated result; change any measurement to compare alternatives.
Formula
annual pension = final average salary × years of service × multiplier % (the multiplier is your plan's own formula — enter it, it is not assumed for you)
- salary
- Final average salary
- service
- Years of service
- multiplier
- Plan multiplier per year of service (%) — enter your plan's figure
- yearsPaid
- Years you expect to draw the pension
Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
Worked example
For pension calculator, the following measurements illustrate the exact method: Final average salary: 80000; Years of service: 30; Plan multiplier per year of service (%) — enter your plan's figure: 1.5; Years you expect to draw the pension: 25.
Inputs
- Final average salary80000
- Years of service30
- Plan multiplier per year of service (%) — enter your plan's figure1.5
- Years you expect to draw the pension25
Result
- Annual pension benefit$36,000.00
- Monthly pension benefit$3,000.00
- Income replacement rate45%
- Undiscounted total over the drawing years$900,000.00
Results explained
- Annual pension benefit
- Annual pension benefit from the formula above. Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
- Monthly pension benefit
- Monthly pension benefit from the formula above. Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
- Income replacement rate
- Income replacement rate from the formula above. Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
- Undiscounted total over the drawing years
- Undiscounted total over the drawing years from the formula above. Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
Frequently asked questions
annual pension = final average salary × years of service × multiplier % (the multiplier is your plan's own formula — enter it, it is not assumed for you)
Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.
No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.
This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.
Check period consistency, currency, percentage inputs and the assumptions: Uses only the benefit formula you enter: no cost-of-living adjustments, survivor reductions, early-retirement discounts or lump-sum conversion are applied.