What is this calculator?
Estimate an annual pension from a salary-based benefit formula.
What can you use it for?
Use this tool to compare a financial scenario using the assumptions you control. Estimate an annual pension from a salary-based benefit formula.
How to use it
- Enter pensionable annual salary.
- Enter years of service.
- Enter accrual rate per year (%).
- Select Calculate (or Generate for random tools).
- Read the answer and any additional results below the form. Check the units and the limits of the method.
Formula and method
Monthly pension = pensionable annual salary × years of service × accrual rate per year/1200
The formula uses the units and definitions shown above. Each input is substituted before the arithmetic is evaluated; the calculated output is rounded for display.
Worked example
Pensionable annual salary: 1000000, Years of service: 25, Accrual rate per year (%): 1.5. The result is 375,000 (annual pension).
Assumptions and limits
Use the accrual rate from your own scheme. Caps and survivor benefits are excluded.
Frequently asked questions
What inputs does the Pension Calculator need?
Use pensionable annual salary, years of service, accrual rate per year (%). Read the answer and any additional results below the form. Check the units and the limits of the method.
What assumptions apply to the Pension Calculator?
Use the accrual rate from your own scheme. Caps and survivor benefits are excluded.