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NHS pension calculator
Start from the pension on your Total Reward Statement. Each year you keep paying in adds 1/54th of your pay, and what you have built rises by inflation plus 1.5% a year. Everything is in today’s money.
Now see it beside everything else
Your NHS pension is one piece. Isaac adds your State Pension, other pensions, savings and spending, takes off tax, and shows how long your money lasts.
- Each NHS section with its own pension age
- Taking it early, at the pension age or later, compared
- Plan as a couple, with your partner’s pensions too
- Free to start. No card. iPhone, Android and web
- Each year adds
- 1/54th of that year’s pensionable pay
- Revalued by
- inflation (CPI) plus 1.5% a year while you pay in, then inflation after you leave
- Paid in full from
- your State Pension age, or 65 if that is later
- Tax-free cash
- Optional: £12 for every £1 a year of pension given up
Everything is in today’s money. Taking the pension before the age above reduces it for each year it’s paid early; the scheme’s own factors set by how much.
How this calculator works
It starts from the pension you have already built up, from your latest statement. Each year until you stop paying in, it adds 1/54th of that year’s pay and revalues everything so far by inflation (CPI) plus 1.5% a year. After you stop, the pension keeps pace with inflation until it is paid. All figures are in today’s money, so a pound in the answer buys what a pound buys now.
If you were in the 1995 or 2008 section before April 2015, the McCloud remedy means your service from April 2015 to March 2022 may count in that section instead, and you choose at retirement. This calculator covers the 2015 scheme; the Isaac app adds each section with its own pension age.
Questions
When is my NHS 2015 scheme pension paid?
In full from your State Pension age, or 65 if that is later. You can take it from 55 (57 from April 2028) with a reduction for each year it is paid early, or later with an increase.
How does the NHS 2015 scheme build up?
Each scheme year adds 1/54th of that year’s pensionable pay to your pension. While you are a member, everything built so far is revalued each April by inflation (CPI) plus 1.5%. Once you leave, it rises with inflation.
How much tax-free cash can I take?
You can give up some pension for a lump sum at £12 for every £1 a year of pension. The most you can take is 25% of the value of your benefits, which works out at about 4.3 times the pension before you give any up. The calculator shows both.
For more on the scheme, read our NHS Pension Scheme guide.