NHS Pension Calculator 2026/27
Complete Professional Calculator for All NHS Pension Schemes
✓ Updated with Latest February 2026 Pay RiseBasic Pension Calculator
1995 Section
Final Salary
1/80th accrual
NPA: 60
2008 Section
Final Salary
1/60th accrual
NPA: 65
2015 Scheme
Career Average
1/54th accrual
NPA: State Pension Age
Your Estimated Pension Benefits
💡 Next Steps:
- Request official forecast from NHSBSA
- Consider speaking to financial adviser if retiring within 2 years
- Review your pension choices annually
Advanced Multi-Scheme Calculator
Comprehensive Pension Projection
Years to Retirement: 0
Total Service: 0 years
Breakdown by Scheme
| Scheme | Service (Years) | Annual Pension | Lump Sum | Notes |
|---|---|---|---|---|
| TOTAL | – | – | – | Combined benefits |
McCloud Remedy Calculator
What is the McCloud Remedy?
If you were in the NHS Pension Scheme on 31 March 2012 and 1 April 2015, you can choose between legacy (1995/2008) and 2015 scheme benefits for the remedy period (1 April 2015 – 31 March 2022).
This calculator compares both options to show which gives better benefits.
McCloud Remedy Comparison
| Option | Annual Pension | Lump Sum | Total Value (20yr) | Recommendation |
|---|
When Do I Choose?
You don’t need to make this choice now. NHSBSA will calculate both options when you retire and let you choose the better one. This calculator helps you understand what to expect.
Annual Allowance Calculator
Annual Allowance 2026/27
Standard Allowance: £60,000
Tapered Allowance: Reduces if adjusted income exceeds £260,000
Minimum Allowance: £10,000 (for very high earners)
Annual Allowance Assessment
Partial Retirement Calculator
What is Partial Retirement?
From age 55, you can draw between 20% and 80% of your accrued pension while continuing to work. Perfect for:
- Gradually reducing hours
- Supplementing part-time income
- Testing retirement before fully stopping
- Accessing lump sum while still working
Partial Retirement Projection
Immediate Benefits (Start Now)
Reserved Benefits (Paid Later)
Combined Income While Working
Free NHS Pension Calculator for 1995, 2008 and 2015 Schemes
Designed for NHS staff: nurses, HCAs, allied health professionals, admin teams, and senior clinicians who want a realistic pension estimate before requesting an official NHSBSA statement.
The NHS Pension Scheme is one of the most valuable defined benefit pensions in the UK. However, understanding how much you will receive at retirement can be difficult due to multiple scheme sections, revaluation rules, and early retirement adjustments.
This calculator helps NHS employees estimate retirement income, tax-free lump sum, and pension growth across the 1995 Section, 2008 Section, and 2015 CARE scheme.
How is NHS pension calculated?
NHS pension benefits are calculated using scheme-specific accrual rates. The 1995 Section builds 1/80th of final salary per year plus a lump sum, the 2008 Section builds 1/60th of final salary, and the 2015 scheme builds 1/54th of each year’s pensionable pay with CPI-linked revaluation.
Why NHS Staff Use This Calculator
- Estimate retirement income before requesting an official pension statement
- Understand early retirement impact and reductions
- Compare McCloud remedy outcomes for 2015-2022 period
- Check annual allowance risk and potential tax charges
- Plan partial retirement decisions and gradual reduction
Related NHS Pay & Salary Tools
Understanding NHS Pension Scheme Sections
1995 Section
- Accrual Rate: 1/80th of final salary per year
- Automatic Lump Sum: 3 times annual pension
- Normal Pension Age: 60
- Early Retirement: From age 55 with actuarial reduction
- Employer Contribution: 14.38% – 20.68% of salary
2008 Section
- Accrual Rate: 1/60th of final salary per year
- Lump Sum: No automatic lump sum (can commute pension)
- Normal Pension Age: 65
- Commutation Rate: £12 lump sum for every £1 of pension given up
2015 CARE Scheme
- Accrual Rate: 1/54th of each year’s pensionable pay
- Revaluation: CPI + 1.5% annually while active member
- Normal Pension Age: Linked to State Pension Age (currently 67)
- Flexibility: Can exchange pension for lump sum at 12:1
McCloud Remedy Explained
Who is affected? NHS staff in service on 31 March 2012 and 1 April 2015 can choose whether pension benefits earned between April 2015 and March 2022 are calculated under their legacy scheme (1995/2008) or the 2015 scheme.
When to choose: NHSBSA will calculate both options when you retire or transfer out. You’ll choose the better option at that time.
Which is better? Generally, the legacy scheme is better if your final salary is significantly higher than your career average earnings during 2015-2022. The 2015 scheme may be better if you had moderate salary growth and the higher accrual rate (1/54th) compensates.
Annual Allowance and Tax Considerations
The annual allowance is the maximum amount your pension can grow in a tax year without triggering a tax charge.
| Income Level | Allowance 2026/27 | Notes |
|---|---|---|
| Standard | £60,000 | Most NHS staff |
| Adjusted income £260,000-£360,000 | Tapered (reduces by £1 for every £2 over threshold) | Senior consultants, managers |
| Adjusted income over £360,000 | £10,000 (minimum) | Very high earners |
How pension growth is calculated: For defined benefit schemes like NHS pensions, growth = (Closing Pension Value – Opening Pension Value adjusted for CPI) × 16
If you exceed the allowance: You face a tax charge on the excess. Options include Scheme Pays (NHSBSA pays from your pension), self-assessment payment, or carrying forward unused allowance from previous 3 years.
Calculation Methodology & Accuracy
This calculator uses:
- Official NHS scheme accrual rules (1/80th, 1/60th, 1/54th)
- CARE revaluation based on CPI assumptions (2.2% for 2026)
- Actuarial reduction factors for early retirement
- HMRC methodology for annual allowance calculation
- 2026/27 tax thresholds and allowances
Limitations: This calculator provides estimates only. It assumes continuous service, full-time work, and consistent salary patterns. It does not account for part-time working adjustments, career breaks, unpaid leave, or maternity leave periods. Always request an official forecast from NHSBSA for definitive figures.
Is the NHS pension good?
The NHS pension is widely considered one of the strongest UK public sector pensions due to:
- Guaranteed income for life (defined benefit)
- Annual inflation protection (CPI increases)
- High employer contributions (14-20% of salary)
- Survivor benefits for spouse/partner
- Death-in-service lump sum (2× salary)
- Ill health retirement options
Flexible and Partial Retirement
From age 55, NHS staff may draw between 20% and 80% of pension benefits while continuing employment. This allows:
- Gradual retirement: Reduce hours while supplementing income with pension
- Work-life balance: Step down from full-time to part-time
- Financial flexibility: Access lump sum while still earning
- Continued accrual: Keep building pension on part-time salary
Important: The portion you draw is subject to early retirement reductions if you’re below Normal Pension Age. The reserved portion (not drawn) is paid in full at your full retirement with no reduction.
Common NHS Pension Questions
When can I retire from the NHS?
Answer: You can access benefits from age 55 (rising to 57 in 2028). Your Normal Pension Age depends on which scheme section you’re in: 60 for 1995 Section, 65 for 2008 Section, or State Pension Age (typically 67) for 2015 Scheme. Early retirement is possible but with actuarial reductions.
Can I take my NHS pension and keep working?
Answer: Yes. Partial retirement allows you to draw 20-80% of your pension while continuing NHS employment. You can also retire fully and return to work after a break, or take “retire and return” which requires a 24-hour break in service.
What happens if I leave the NHS before retirement?
Answer: Your pension is preserved and remains payable at your Normal Pension Age. For 2015 scheme members, your CARE pot continues to be revalued annually by CPI (not CPI+1.5% as it would be for active members). You can transfer to another pension scheme, but this is rarely advisable due to NHS pension generosity.
Should I take the NHS lump sum?
Answer: This depends on your circumstances. Take the lump sum if you need capital for specific purposes (paying off mortgage, home improvements, clearing debts). Keep the pension if you need higher regular income, want inflation protection, or want to maximize survivor benefits for your partner.
How much will my NHS pension increase each year?
Answer: NHS pensions in payment increase annually by CPI inflation (September figure). For 2015 scheme active members, the CARE pot revalues by CPI + 1.5% each year. Deferred benefits (if you’ve left the NHS) revalue by CPI only.
Death Benefits and Survivor Pensions
The NHS pension includes valuable death benefits:
- Death in service: Lump sum payment of 2× your pensionable pay to your nominees
- Survivor pension: Your spouse/civil partner receives approximately 33-50% of your pension (varies by scheme)
- Children’s pension: Dependent children may receive pensions until age 23 (if in full-time education)
- Death after retirement: Lump sum and ongoing spouse pension depending on scheme rules
More NHS Planning Tools
Important Disclaimer: This calculator provides estimates only and should not be considered financial advice. Actual pension benefits depend on many factors and may differ from these projections. For official pension forecasts, please request a benefit statement from NHS Business Services Authority (NHSBSA). Always verify figures with NHSBSA before making retirement decisions.
