NHS Pension Calculator & Pot Projector
Project your retirement pot and calculate your tax relief with our **NHS Pension Calculator** for the **2026/27 tax year**. The NHS Pension Scheme (2015 CARE scheme) accrues at a generous **1/54th** of your pensionable pay each year, revalued annually by CPI inflation plus 1.5%. Use this free tool to project your pension pot over your career, calculate the exact **income tax relief** on your contributions, and see the true **net cost** of your pension versus your take-home pay.
Reference Salary Tables & Quick Facts
NHS Pension Schemes Comparison & Accrual Rules
| Feature | 1995 Section (Legacy) | 2008 Section (Legacy) | 2015 Scheme (CARE) |
|---|---|---|---|
| Accrual Rate | 1/80th of final salary | 1/60th of final salary | 1/54th of career average earnings |
| Normal Pension Age | 60 | 65 | State Pension Age (minimum 65) |
| Lump Sum Option | Automatic 3x pension (tax-free) | Optional via 12:1 commutation | Optional via 12:1 commutation |
| Revaluation Rate | N/A (Final Salary based) | N/A (Final Salary based) | CPI + 1.5% per annum |
Frequently Asked Questions
How the 2015 NHS Pension Scheme (CARE) Works
The 2015 NHS Pension Scheme is a Career Average Revalued Earnings (CARE) scheme. Unlike private schemes, it does not rely on stock market investments. Instead, it provides a guaranteed, inflation-proof retirement income based on these four pillars:
1/54th Accrual
Each year, you build up a pension block equal to 1/54th (1.85%) of your pensionable earnings during that year.
CPI + 1.5% Revaluation
Your earned pension pot is revalued every year by the Consumer Price Index (CPI) plus an extra 1.5% to beat inflation.
Lump Sum (12:1)
You can exchange (commute) £1 of your annual pension to receive £12 as a tax-free lump sum, up to 25% of the total pot value.
Normal Pension Age
Your Normal Pension Age (NPA) is linked to your State Pension Age. Early retirement is possible from age 55, with a reduction.
