NHS Pension Calculator
Calculate your NHS 2015 scheme pension with year-by-year projections, inflation adjustments, and early retirement options.
Tax year 2026/27 ·
Get a quick estimate using your average salary and total years in the scheme. Perfect for a rough idea of your pension.
About the NHS 2015 Pension Scheme
- • Accrual rate: 1/54 of pensionable pay each year
- • Active member bonus: 1.5% per year while contributing
- • Revaluation: CPI + 1.5% annually
- • Normal Pension Age: State Pension Age (66-68)
- • Lump sum: Trade up to 30/7 of annual pension
Read our complete guide to NHS pension contributions and benefits →
How this calculator works
Each scheme year the calculator adds pensionable pay × 1/54 to your
pension. Earned pension is revalued every April by the previous September's CPI
plus 1.5% while you remain an active member (we use published ONS CPI figures for
past years and an adjustable assumption, default 2.5%, for future years).
Retiring before your Normal Pension Age applies a permanent early-payment reduction (about 5% per year early); exchanging pension for a lump sum uses the scheme's £12 : £1 commutation rate.
- Estimates only the 2015 CARE scheme — 1995/2008 legacy section benefits and McCloud (2015 Remedy) choices are not modelled.
- Assumes continuous active membership (deferred members' revaluation differs).
- Does not model added-pension purchases, ERRBO, partial retirement, or annual-allowance tax charges.
Sources
- NHSBSA — NHS Pension Scheme (2015 Scheme rules) — accrual rate, revaluation, commutation
- ONS — Consumer Prices Index — September CPI figures used for revaluation
- GOV.UK — State Pension age — Normal Pension Age is linked to State Pension Age
Full formulas and worked examples for every calculator are on our methodology page.
Frequently asked questions
- How is the NHS 2015 pension calculated?
- The NHS 2015 scheme is a Career Average Revalued Earnings (CARE) scheme. Each year you bank 1/54th of your pensionable pay as annual pension. While you remain an active member, your banked pension is revalued every April by CPI inflation plus 1.5%.
- What is the normal pension age for NHS staff?
- For the 2015 scheme, your Normal Pension Age equals your State Pension Age — currently 66 to 68 depending on your date of birth. You can take your pension earlier (from age 55, rising to 57 from April 2028), but it is permanently reduced for early payment.
- Can I take a tax-free lump sum from my NHS pension?
- Yes. You can exchange annual pension for a tax-free lump sum at a rate of £12 of lump sum for every £1 of annual pension given up. The maximum lump sum the calculator allows is 30/7 (about 4.3 times) your annual pension.
- What happens if I retire early from the NHS pension?
- Your pension is permanently reduced for each year it is paid before your Normal Pension Age — roughly 5% per year (for example 5.1% one year early, 23.6% five years early, using published actuarial factors). The calculator applies the exact factor for your chosen retirement age.
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