Financial Calculators
Pension Calculator
Estimate a defined-benefit pension.
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Enter details
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Result
Annual pension
$48,000.00
Monthly pension
$4,000.00
Replacement of final salary
60%
About the Pension Calculator
Most defined-benefit pensions use a simple formula: years of service × final average salary × a benefit multiplier. Enter those three values and the calculator returns your estimated annual and monthly pension, plus what percentage of your final salary it replaces. It's a fast way to project retirement income from a government, military, or company pension.
How to use the Pension Calculator
- 1Enter your years of service, final average salary, and benefit multiplier.
- 2Read the result instantly — it recalculates as you type.
- 3Adjust the numbers to model different scenarios.
Frequently asked questions
How is a pension calculated?
A common formula is years of service × final average salary × a multiplier (often ~1.5–2.5% per year). This tool uses that standard method.
What is a benefit multiplier?
The percentage of salary earned per year of service. A 2% multiplier over 30 years replaces 60% of final salary.