How to use this calculator
You need three numbers, all on your annual benefit statement from Teachers' Pensions: your current full-time equivalent salary, your age, and the pension you have already built up. Everything else — growth rates, retirement age, CPI — is a projection assumption you can change.
- Salary — your current FTE pay, including pensionable TLR and SEN allowances.
- Pension already built — the total accrued pension figure on your latest statement, not the annual build.
- Your age and target retirement age — the gap drives both the extra accrual and any early-retirement reduction.
- Average % FTE from now — set this below 100 if you plan to work part time for the rest of your career.
What the calculator assumes
The projection mechanics are the scheme's own: 1/57th accrual each year, revaluation of the accrued pot at CPI plus 1.6% while active, and tiered member contributions on your FTE salary. What the calculator cannot know is the future — so you set:
- Pay growth — 2% is a neutral assumption matching recent STPCD awards; the 2026/27 award was 3.5%.
- CPI — 2% is the Bank of England target. Higher CPI increases your projected pension because revaluation is CPI-linked.
- Part-time fraction — the average FTE you expect to work for the rest of your career.
Because revaluation (CPI + 1.6%) exceeds typical pay growth, the projected pension holds its real value even in flat-salary scenarios. Higher CPI assumptions raise the projected figure in money-of-the-day terms.
Worked example: M6 teacher, age 40
A teacher on M6 (£46,939), age 40, with £12,000 already accrued, retiring at 67 with 2% pay growth and 2% CPI:
| Output | Value |
|---|---|
| Years of further accrual | 27 |
| Pension at 67 | ≈£45,900 a year |
| Of which already accrued | ≈£23,300 |
| Added by future service | ≈£22,600 |
| Member contributions over the period | ≈£172,500 |
| Employer contributions (28.8%) | ≈£477,800 |
Retiring three years early at 64 applies an indicative reduction of about 14.5%, taking the pension to roughly £39,200 a year — a cut that lasts for life. The early retirement guide has the full reduction table.
Reading the results honestly
Three caveats keep a projection honest. First, it assumes continuous membership — maternity leave, unpaid leave and career breaks change the path. Second, it uses today's scheme rules; contribution tiers, accrual rates and NPA have all changed before and will again. Third, the actuarial reductions shown are indicative — the scheme publishes the definitive factors and applies them at the point of retirement.
Common questions this calculator answers
Most teachers use it for four decisions: whether retiring at 60 versus 67 is affordable, what working part-time until retirement does to the final figure, whether the maximum lump sum is worth taking, and how much a mid-career pay rise — say moving to the leadership pay scale — adds to the eventual pension. Each year of higher pay adds 1/57th of the higher figure, permanently.
Frequently asked questions
How do I calculate my teachers' pension?
Multiply each year's pensionable pay by 1/57th, revalue the running total each year at CPI plus 1.6% while in service, and sum across your career. In practice, take the accrued pension from your annual benefit statement and add projected future years — which is what this calculator does.
What is the teachers' pension calculator uk teachers actually need?
One that models the CARE mechanics properly: 1/57th accrual, CPI+1.6% revaluation, tiered contributions on FTE salary, and early-retirement reductions. Generic pension calculators assume a pot of money and investment returns, which is the wrong model for the TPS.
How accurate is a TPS pension projection?
The mechanics are exact to scheme rules; the assumptions are not. Pay growth and CPI are unknowns. Treat the output as a realistic range rather than a promise, and check your annual benefit statement for the definitive accrued figure.
Does the calculator include my final salary service?
Enter your total accrued pension from your statement, which includes final salary and CARE sections combined at their respective values. For detailed modelling of mixed service, the scheme's own official calculator handles the section split precisely.
What happens if I work part-time until retirement?
Set the average FTE field below 100. Each year builds 1/57th of your actual pensionable pay, so a 0.6 FTE teacher accrues 60% of the full-time figure for each of those years, with no other penalty.
Can I calculate my pension if I plan to retire at 60?
Yes — set your target retirement age to 60. The calculator applies the indicative actuarial reduction for the years taken before Normal Pension Age, so you can compare 60 against 65 and 67 side by side.
Where do I find the pension I have already built up?
On your annual benefit statement from Teachers' Pensions, in the online member portal. Statements are usually produced annually and can lag your current salary by up to 18 months — enter today's salary for the projection.
Sources
Related tools and guides
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How the Teachers' Pension Scheme works in 2026/27: CARE accrual at 1/57th, contribution tiers, revaluation, NP
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