NHS Pension Forecast Calculator
Estimate your annual pension based on the 2015 CARE scheme rules.
Your Pension Details
Enter your details to get a forecast. This calculator is for the 2015 NHS Pension Scheme.
Understanding the 2015 NHS Pension Scheme
Career Average Revalued Earnings (CARE)
The 2015 scheme is a CARE pension. This means each year you work, you build up a 'pot' of pension equal to 1/54th of your pensionable earnings for that year. This is different from a 'Final Salary' scheme.
Annual Revaluation
At the start of each financial year, the pension you've built up is increased to protect it against inflation. This increase is set by the Treasury and is currently the Consumer Price Index (CPI) + 1.5%.
Tax-Free Lump Sum
When you retire, you can choose to exchange part of your annual pension for a one-off tax-free cash lump sum. For every £1 of annual pension you give up, you get £12 of lump sum. This calculator shows you some examples of this exchange.