Early Retirement Calculator

Plan your Teachers’ Pension

Stop guessing. Use our tools to project your income, calculate tax-free cash, and understand your options.

NEW Total Pension Projector
Combine Final Salary & CARE pots. Model McCloud, Phased Retirement & Salary Growth.
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Lump Sum
Phased Retirement

See how your Teachers’ Pension changes if you retire at 55, 57, 60 or wait until your Normal Pension Age (NPA). We apply official actuarial reduction factors across Final Salary (60/65) and CARE (Career Average). For CARE we use your State Pension Age (SPA) from your date of birth. You can also model optional CARE Buy Out.

Enter the pension you’ve already built up in each slice, then choose a retirement age. We’ll apply the official early-retirement factors.

Minimum pension age: normally 55, rising to 57 on 6 April 2028. Taking benefits before Normal Pension Age applies an actuarial reduction.
We use your date of birth to estimate your State Pension Age for the CARE slice. You can also check your SPA on GOV.UK.
65 years Drag to compare ages (55/57/60/65/67).
Refines the age between birthdays.

Your current pension (per year) - before any reductions

Rough figures are fine. You can update later.

£
Older service with Normal Pension Age 60.
£
Later Final Salary service with NPA 65.
£
Career Average pension (2015+ service).
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Frequently Asked Questions

From 6 April 2028 the normal minimum pension age rises from 55 to 57. Final Salary may retain a limited right at 55 where you have an unfettered right. CARE can’t be taken before 57 (except ill-health). If you have both FS and CARE, current rules require taking all benefits together.

No. A non-working day is not a break in service. Your contract must formally end (in writing). Returning before your payable date will void the application.

Apply via My Pension Online about 6 months before your target date (earlier submissions are rejected). Early Retirement is member-initiated and reduced. Premature Retirement is employer-initiated and only available with employer agreement.

It’s the official actuarial reduction applied when you take benefits before a slice’s Normal Pension Age (NPA). Example: factor 0.827 ≈ 83% of that slice for life.

CARE Buy Out (if you elected it) can remove up to 3 years of early-retirement reduction on CARE. Lump sums aren’t shown here — use the Lump Sum Calculator.