Pensions can be complex with many decisions and variables depending on individual circumstances, many of which are only made at the point of retirement.
The purpose of this calculator is to provide a future projection to help you understand your potential financial position at a specific retirement age.

The calculator for each scheme is separate, this is because each scheme has separate rules and retirement ages.
Once you have decided on a retirement age and completed the calculations you can simply add them together get your overall retirement position.
In this calculator each scheme is calculated independently from each other, as such the Max Commutation limit of £268,275 set by HMRC is applicable for the total of all your pensions, not per scheme.

No, calculations are based on the Normal Pension Age for that scheme with actuarial reduction for retiring early.

Calculations are based on your current position, if these change in the future then you can re-visit and enter your new details into the calculator.

This calculator is based on continued service in the NHS from now until you retire.

Inflation is the general increase in prices over time, which means that the same amount of money can buy fewer goods and services in the future.
Due to inflation your pension will buy the equivalent of this today. A Present Value (PV) calculation is used for this figure using the inputted Future CPI %.

No, the state pension not part of the NHS Pension scheme. The state pension age is currently 66, rising to 67 by 2028 and 68 in the future.
You can check your state pension eligibility by visiting https://www.gov.uk/check-state-pension.

For this scheme, Final Salary is the best 365 consecutive days pay in the last 3 years of service.
This calculator uses the predicted salary associated with the age of retirement as this would cover the past 365 days.

Part-time working affects service length (pro-rata) but not your final salary rate. This is based on your whole-time equivalent pay (WTE).
This calculator takes part-time working into account when calculating your pensionable service length.

The automatic lump sum is part of your default pension settlement for this scheme. You can additionally choose to exchange some of your pension for a bigger lump sum within HMRC limits.
This calculator will re-calculate and show your adjusted pension per annum if you choose to take an additional lump sum.

If you were a member of a legacy pension scheme (1995 Scheme) or (2008 Scheme on or before 31 March 2012, and still active on 1 April 2015) then you are eligible for the McCloud Remedy.
Due to the McCloud Remedy the start date of the Care Scheme was by default change from 01 April 2015 to 01 April 2022.
When you retire you will be given the option to revert to the 2015 start date if you deem it to be financially beneficial.
It is worth calculating your position for both options to see which is more lucrative for yourself based on the age you want to retire.
Remember to calculate the Care Scheme portion of your pension accordingly too so there is no overlap.

For this scheme, Final Salary is the best average of any 3 consecutive years pensionable pay from your last 10 years of service.
This calculator uses the predicted salary associated with the age of retirement and the previous 2 years to work out the average.

Part-time working affects service length (pro-rata) but not your final salary rate. This is based on your whole-time equivalent pay (WTE).
This calculator takes part-time working into account when calculating your pensionable service length.

Yes, within this scheme you can choose to exchange some of your pension for a lump sum within HMRC limits.
This calculator will re-calculate and show your adjusted pension per annum if you choose to take a lump sum.

If you were a member of a legacy pension scheme (1995 Scheme) or (2008 Scheme on or before 31 March 2012, and still active on 1 April 2015) then you are eligible for the McCloud Remedy.
Due to the McCloud Remedy the start date of the Care Scheme was by default change from 01 April 2015 to 01 April 2022.
When you retire you will be given the option to revert to the 2015 start date if you deem it to be financially beneficial.
It is worth calculating your position for both options to see which is more lucrative for yourself based on the age you want to retire.
Remember to calculate the Care Scheme portion of your pension accordingly too so they don’t overlap.

One is for using the data in your latest pension statement to calculate your future position, this should be the simplest option for most.
The other is for using the Pensionable Earnings information from your Complete Pay Record held in your payroll system.
This is more involved but allows you to check the accuracy of the data being used in your latest pension statement.

If you were a member of a legacy pension scheme (1995 Scheme) or (2008 Scheme on or before 31 March 2012, and still active on 1 April 2015) then you are eligible for the McCloud Remedy.
Due to the McCloud Remedy the start date of the Care Scheme was by default change from 01 April 2015 to 01 April 2022.
When you retire you will be given the option to revert to the 2015 start date if you deem it to be financially beneficial.
It is worth calculating your position for both options to see which is more lucrative for yourself based on the age you want to retire.
Remember to calculate the legacy scheme portion of your pension accordingly too so they don’t overlap.

Salary refers to your contractual annual pay, the amount agreed upon in your employment contract.

Pensionable Earnings are the portions of your actual pay that count towards your pension. This typically includes:
    • Basic pay (including any salary increases during the year)
    • Contractual enhancements, such as shift pay

Pensionable earnings exclude:
    • Overtime
    • Bonuses
    • Non-contractual or discretionary payments

This is all recorded in your Complete Pay Record (CPR) within Payroll.

The CARE Scheme is calculated differently to the legacy schemes, so part time working does not need recorded.
All calculations are based on your pensionable earnings for the year. If you worked part time, then you will have less pensionable earnings than someone who worked full time.

Yes, within this scheme you can choose to exchange some of your pension for a lump sum within HMRC limits.
This calculator will re-calculate and show your adjusted pension per annum if you choose to take a lump sum.

Every year your banked pension pot to date is increased in line with inflation based on the Consumer Price Index (CPI).
There is also a 1.5% boost added on top, this helps protect the value of your pension over time.
The CPI figure used from 1st April is the September CPI figure from the previous calendar year.