NHS Pension Calculator 2026/27
Estimate your NHS Pension Scheme 2015 (CARE) annual pension at retirement. Inputs: current pensionable salary, years already served and planned retirement age. Output: annual pension and the lump-sum / pension trade-off available via 25% commutation at 12:1.
Enter your figures and click Calculate.
How the NHS Pension Scheme 2015 works
- Career Average Revalued Earnings (CARE) accrual. Every year you earn 1/54th of your pensionable salary as a pension entitlement (compared with 1/57th for the Teachers' Pension Scheme, 1/55.3rd for Police Pension 2015, 1/47th for Armed Forces 2015).
- In-service revaluation: CPI + 1.5%. Each block of pension earned during a scheme year is uprated by CPI + 1.5% every subsequent year you remain in service. This is materially more generous than CPI-only revaluation in many other public schemes.
- In-retirement increases: CPI only. Once you draw your pension, annual increases match CPI inflation (per the Pensions Act 2014 triple-lock-equivalent for Schedule 2 public pensions).
- Normal Pension Age = State Pension Age. Currently 67 for most members, rising to 68 between 2044 and 2046. Drawing earlier reduces the pension by an actuarial factor (Early Retirement Reduction). Drawing later increases it.
- 25% tax-free lump-sum commutation at 12:1. You can surrender up to 25% of your pension capital value to take a tax-free lump sum, at a rate of £12 lump sum per £1/year of pension given up. Worth modelling against your other tax-free cash needs.
- Employee contribution 2026/27 (tiered by salary, per NHS Employers). Up to £13,259 = 5.2%; £13,260-£28,854 = 6.5%; £28,855-£35,155 = 8.3%; £35,156-£52,778 = 9.8%; £52,779-£67,668 = 10.7%; £67,669+ = 12.5%. Employer contribution 23.7% across all bands.
Worked example: NHS Band 6 nurse, 30-year career
Band 6 nurse on £42,170 (mid-band 2026/27, England). 30 years of pensionable service to retirement age 67. Pay growth 2.5%/year, CPI 2.0%/year.
- Each year accrues 1/54th of pensionable salary ≈ £781 of pension in year 1.
- 30 years of accrual revalued at CPI+1.5% in service ≈ £30,000-£35,000 of indexed pension at age 67 in 2026/27 prices.
- Lump-sum commutation 25% (3 years of pension surrendered) ≈ £85,000-£100,000 tax-free + reduced annual pension ~£23,000-£26,000.
- Employee contribution at 9.8% across the career ≈ £125,000 of nominal contributions vs >£600,000 capital value at retirement.
Sources + caveats
- Accrual rate, revaluation rule and Normal Pension Age per the NHSBSA Member Hub and NHS Employers 2026/27 member contributions publication.
- 25% tax-free lump-sum commutation rate of 12:1 is the scheme's standard - applies to NHS 2015 Section. McCloud remedy members with linked 1995/2008 service have different rules for the legacy section; this calculator covers 2015-only service.
- Estimate only. Actual pension depends on full salary history, McCloud remedy elections, Mental Health Officer (MHO) status, Special Class status, Early Retirement Reduction or Late Retirement Enhancement factors and any pension input adjustments for Annual Allowance breaches. For authoritative figures use your annual NHS Total Reward Statement.
- Not pension advice. Decisions about commutation, retirement timing, or partial retirement should be made with regulated financial advice (NHS-specialist where possible).