Teachers Pension Calculator 2026
Instantly estimate your Teachers’ Pension retirement income. A free UK tool for educators to project annual payouts, monthly income, and lump sums based on the 2015, 2007, and 1987 TPS schemes.
Pension Projection
Enter your service details to estimate your TPS payout
Your current annual pensionable salary (used as a proxy for Career Average Earnings).
The total number of years you expect to have in the Teachers’ Pension Scheme at retirement.
Select your TPS scheme. Most current teachers are in the 2015 CARE scheme.
Your Pension Estimate
Retirement income and lump sum breakdown
Enter your service details above and click Calculate Pension to reveal your Teachers’ Pension projection.
TPS Scheme Benchmarks
Quickly reference the standard accrual rates, lump sum provisions, and normal pension ages for the different Teachers’ Pension Scheme generations.
| Scheme Type | Pension Accrual | Lump Sum Details |
|---|---|---|
| 2015 CARE Scheme | 1/57th of CARE | None (Commutation available) |
| 2007 Scheme | 1/60th of Final Salary | 3/60ths (1/20th) automatic |
| 1987 Scheme | 1/80th of Final Salary | 3/80ths automatic |
Teachers Pension FAQ
Everything you need to know about the Teachers’ Pension Scheme, understanding your accrual rates, and planning for your retirement in the education sector.
The Teachers’ Pension Scheme (TPS) is a statutory occupational pension scheme for school teachers in England and Wales. It is one of the most generous public sector pension schemes, providing a guaranteed income for life upon retirement, inflation-proofed in line with the CPI.
The 2015 scheme is a Career Average Revalued Earnings (CARE) scheme. Each year, you build up 1/57th of your pensionable earnings for that year. This amount is then revalued each year in line with the Consumer Prices Index (CPI) plus 1.6% until you retire. Your final pension is the total of all these yearly amounts added together.
For members of the 2015 CARE scheme, the Normal Pension Age is linked to the State Pension Age (currently 66, rising to 67 and 68). For the older 2007 scheme, it is 65. For the 1987 scheme, it is 60 if you have 40 years of service, or 65 otherwise.
Yes, you can usually take your pension from age 55 (rising to 57 in 2028). However, if you take it before your Normal Pension Age, it will be reduced to account for the fact that it will be paid over a longer period. The reduction is typically around 5% to 6% for each year it is taken early.
Yes, your Teachers’ Pension is treated as taxable income. It is subject to Income Tax at your marginal rate (basic, higher, or additional rate) depending on your total annual income. However, any automatic tax-free lump sum you receive from the older schemes remains tax-free.
It depends on your scheme. The older 1987 and 2007 schemes provide an automatic tax-free lump sum (3/80ths or 3/60ths of your final salary per year of service). The 2015 CARE scheme does not provide an automatic lump sum, but you can choose to ‘commute’ (exchange) some of your annual pension for a tax-free cash lump sum at a rate of £1 for every £12 of pension given up.