Calculators
Public Pension Benefit Calculator
Estimate a public sector defined benefit pension from final average salary, multiplier, years of service, early retirement reduction and COLA.
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- Nothing uploaded
The tool
Enter your numbers below. Results update as you type, and nothing leaves your browser.
Everything you enter stays on your own machine. Nothing is sent to us or to anyone else, which you can confirm in your browser network tab.
What people use it for
- Teachers' and public employees' retirement planning
- Comparing retirement dates
- Evaluating job moves
- Financial planning
About this tool
What the Public Pension Benefit Calculator does
Most public pensions use a formula: final average salary × benefit multiplier × years of service. Retiring before the plan’s normal retirement age usually reduces the benefit by a percentage per year, and cost-of-living adjustments raise it afterwards.
Formula
- Benefit % = multiplier × years (capped)
- Early reduction = years early × reduction per year
- Pension = final average salary × benefit %
Worked example
Using the starting values in the calculator above:
| Input | Value |
|---|---|
| Final average salary | $82,000 |
| Benefit multiplier per year | 2% |
| Years of service | 28 |
| Years before normal retirement age | 0 |
| Reduction per year early | 6% |
| Annual cost-of-living adjustment | 2% |
| Maximum benefit as % of FAS | 80% |
| Result | Value |
|---|---|
| Annual pension | $45,920 |
| Monthly pension | $3,827 |
| Share of final average salary | 56.0% |
| Annual pension after 10 years of COLA | $55,976 |
How to read the result
Plans differ on how final average salary is calculated (3 or 5 years) and whether overtime counts; check your plan handbook.
Many public employees do not pay into Social Security, so the pension may be their main retirement income.
Estimates only. Official rates and rules change; confirm figures with the relevant agency before relying on them.
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Browse every calculator in Government, Military and Benefits Calculators, or talk to us about accessible websites for public sector organisations.
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Questions
Questions about this tool
The things clients actually want to know — costs, timelines, ownership and what happens after launch.
Usually final average salary × multiplier × years of service, adjusted for early retirement.
Often 1.5% to 2.5% per year of service.
Only if the plan provides a COLA, which may be fixed, inflation-linked or discretionary.
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