Pension Calculator
Estimate your defined-benefit pension payment at retirement.
Pension Calculator
Estimate your defined-benefit pension payment at retirement.
Retirement Savings Formula
ℹ️ Based on consistent contributions and stable return rate. Inflation not accounted for.
Disclaimer
Results provided by this calculator are for informational and educational purposes only. They are based on the values you enter and standard formulas, and should not be considered financial, medical, legal, or professional advice. Always consult a qualified professional before making important decisions based on these results. Roughtools makes no warranties regarding the accuracy or completeness of these calculations for your specific situation.
Frequently Asked Questions
Pro Tips
The difference between starting at 25 vs 35 with the same monthly contribution is not 10 years — it's often double the final balance. The first decade of compounding is the most powerful.
If your employer matches 401k contributions, that's a guaranteed 50–100% return on that money before it even invests. Never leave employer match unclaimed.
Use a 3% withdrawal rate instead of 4% if you plan to retire before 60 — a 40-50 year retirement needs more conservative withdrawals to avoid running out of money.
Run this calculator with pessimistic inputs (5% return, 30-year retirement) and optimistic inputs (8%, 20 years). The range tells you how much buffer you need.
When to Use This Calculator
See how $200–500/month in your 20s can grow to over $1M by retirement with compound growth.
Assess whether your current savings rate will hit your retirement target and calculate the gap.
Model retirement at 55 or 50 to find out what savings rate achieves financial independence early.
Compare 6% vs 10% 401k contributions to quantify the long-term impact of a higher savings rate.
Find out how much monthly income your projected balance will produce using the 4% rule.
About the Pension Calculator
This pension calculator estimates your monthly defined-benefit pension payment using the standard formula: Years of Service × Final Average Salary × Benefit Multiplier. Enter your years of service, final average salary, and your plan's accrual rate to see your projected monthly benefit at your chosen retirement age. Built for public employees, teachers, and any worker with a traditional defined-benefit pension plan.
How to Use the Pension Calculator
- 1
Enter your total years of credited service in the pension plan.
- 2
Enter your final average salary (typically the average of your last 3–5 highest-earning years).
- 3
Enter your plan's benefit multiplier (accrual rate, typically 1.5–2.5% per year of service).
- 4
Enter your planned retirement age and any early retirement reduction factors.
- 5
See your estimated monthly pension benefit and annual pension income.
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