Teachers’ Pension Calculators & Guides

The Teachers’ Pension Scheme (TPS) is made up of three sections depending on when you taught: Final Salary 1/80ths, Final Salary 1/60ths, and the current CARE 2015 scheme. Each builds pension differently and has different lump sum rules.

Scheme section When it applied How pension builds Lump sum rules
Final Salary (1/80ths) Up to 31 Dec 2006 Each year = 1/80 of your final average salary Automatic lump sum = 3× your pension. Extra cash by commutation.
Final Salary (1/60ths) 1 Jan 2007 – 31 Mar 2015 Each year = 1/60 of your final average salary No automatic lump sum; you can create one by commutation (swap pension for cash).
CARE (Career Average) From 1 Apr 2015 Each year = 1/57 of that year’s pay; revalued annually by inflation No automatic lump sum; commutation allowed.

Example: A teacher with £12,000 CARE and £8,000 Final Salary (1/60ths) could swap £2,000/year of pension for £24,000 cash at retirement, leaving £18,000/year income. The Lump Sum Calculator shows the trade-offs instantly.

Teachers’ Pension Calculators

Use these free tools to explore how your pension builds and what choices you have at retirement. Each calculator has plain-English labels and examples.

Lump Sum Calculator (Final Salary & CARE)

See how swapping part of your pension for a tax-free lump sum affects your yearly income. Handles automatic 1/80ths cash and extra commutation across sections with HMRC caps applied.

Try the Lump Sum Calculator

Career Average (CARE) Impact Calculator

Model how breaks, part-time work or rejoining change your CARE pension. Add past events, or start now and project to retirement.

Try the CARE Impact Calculator

Deferred vs Active Growth Calculator

Compare two paths: deferred (leave now, grows with CPI only) vs active (stay in, grows with CPI + 1.6% in TPS). Enter your current CARE and years to retirement.

Try the Deferred Calculator

Note: These tools are for education and planning. Scheme rules and tax can change. Always confirm personal figures with Teachers’ Pensions or a regulated adviser.

Teachers’ Pensions – Quick FAQs

  • 1/80ths (Final Salary, NPA 60): Service up to 2006; builds 1/80 per year; automatic lump sum.
  • 1/60ths (Final Salary, NPA 65): 2007–2015; builds 1/60 per year; no automatic lump sum.
  • CARE 2015: From April 2015; builds 1/57 of each year’s pay; revalued by inflation.

1/80ths includes an automatic lump sum = 3× the pension. For 1/60ths and CARE (and to add extra to 1/80ths), you can create cash by commutation — swapping £1/year pension for £12 cash. Try the Lump Sum Calculator.

Usually no. The scheme spreads commutation proportionally across your sections. Our tools let you test “advanced” scenarios (e.g., use 1/60ths first to preserve CARE).

LSA is HMRC’s tax-free cash limit across all pensions (normally £268,275). You can’t take more tax-free than the lower of your LSA or ~25% of your pension’s capital value. Our calculators apply this cap automatically.

CARE accrual uses your actual pay. Part-time lowers the pay used for that year’s slice; unpaid breaks mean no accrual. Use the CARE Impact Calculator to model patterns.