Pension Calculator
Enter non-negative years of service, salary, and multiplier, and a positive retirement age.
Retiring before your plan's normal retirement age reduces your benefit — this estimate applies your reduction rate for each year early.
This is a generic estimate based on the common "years of service × multiplier × final average salary" formula used by many defined-benefit pension plans — your actual plan's rules (vesting requirements, cost-of-living adjustments, survivor benefit options) can change the real number. Check your plan's official statement for a precise figure.
Free pension calculator using the standard defined-benefit formula (years of service × multiplier × final average salary), with an early-retirement reduction so you can see the real impact of retiring before your plan's normal age.
How it works
- Enter years of service, final average salary, and your plan's benefit multiplier
- Add your plan's normal retirement age and your planned retirement age
- See your full pension estimate, plus the reduced amount if retiring early
Frequently asked questions
Where do I find my benefit multiplier?
It's set by your specific pension plan, typically 1.5-2.5% per year of service — check your plan's summary plan description or annual benefit statement. This calculator lets you enter your plan's actual number rather than assuming one.
Is this exact?
No — it's a generic estimate based on the common defined-benefit formula. Real plans often add complexity (vesting schedules, cost-of-living adjustments, survivor benefit elections) that this calculator doesn't model. Use your plan's official statement for a precise number.
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From the blog
Update history
- 2026-09-01 Added: a cover image (a calendar stack forming steps up to a small coin at the top, representing years of service building a benefit) — used as the card thumbnail, social share image, and blog title image.
- 2026-09-01 Launched: pension calculator using the standard years-of-service × multiplier × final-average-salary formula, with an adjustable early-retirement reduction. Entirely client-side.