NHS Pension 2015 (CARE) Calculator
Estimate your projected annual pension at retirement under the NHS 2015 Career Average Revalued Earnings (CARE) section.
How this NHS pension 2015 calculator works
The NHS 2015 pension section is a career average defined benefit scheme. Instead of basing your pension on your final salary, each year builds its own slice of pension. That slice is then revalued over time.
This calculator models those yearly slices using the standard 2015 section rule:
- Annual accrual = pensionable pay ÷ 54
- Active revaluation = CPI + 1.5% each year until retirement
The tool adds up all projected revalued slices to estimate your annual pension at retirement age.
Inputs explained
Current age and retirement age
These determine how many full years of future accrual are modelled. If you increase retirement age, you usually build more pension and allow existing accrual to revalue for longer.
Current pensionable pay
This is the starting annual pensionable salary used in the projection. The calculator then grows that salary each year using your pay growth assumption.
Annual pay growth and CPI
These are assumptions, not guarantees. Pay growth affects future accrual size. CPI affects revaluation and real-world purchasing power.
Existing accrued 2015 pension
If you already have pension built up in the 2015 section, enter it as an annual amount. The calculator revalues it forward to retirement under the same active-member assumption.
Understanding the output
The result box gives you:
- Projected annual pension at retirement (before tax)
- Estimated monthly pension (annual divided by 12)
- Pension in today’s money (inflation-adjusted estimate)
- Total estimated employee contributions over projection period
- Illustrative maximum tax-free lump sum via commutation
The lump sum figure is purely illustrative and uses standard commutation math. Your actual options depend on NHS rules at retirement and HMRC limits at that time.
Important assumptions and limitations
- Assumes continuous active membership to retirement.
- Uses fixed annual rates for pay growth and CPI.
- Does not model part-time variations, breaks, promotions, or contribution tier changes year by year.
- Does not include McCloud remedy specifics or legacy section interactions.
- Ignores tax effects such as annual allowance and lifetime allowance policy changes.
Ways to use this calculator effectively
Run multiple scenarios
Try conservative, central, and optimistic assumptions. For example, test low pay growth and higher inflation to see downside outcomes.
Stress-test retirement timing
Compare retirement at 65, 67, and 68. Small changes in age can significantly change pension value because you both accrue more and revalue longer.
Use with official documents
Combine this estimate with your latest NHS Total Reward Statement and any official pension estimates for planning confidence.
FAQ
Is this an official NHS pension calculator?
No. It is an independent educational tool intended for planning and understanding.
Does this include spouse benefits and ill-health retirement?
No. This projection focuses on your own main pension income estimate only.
Can I rely on this for financial advice?
Treat it as a guide. For decisions, use official NHS pension information and consider regulated financial advice.