PFCHow to use this calculator
Model a salary-based defined-benefit pension using the formula supplied by your plan. Enter the salary measure and service credit that the plan actually uses.
- Review the example inputs and replace them with the figures for your scenario.
- Check the assumptions and select Calculate to view the estimate.
- Compare a second scenario or open the breakdown and download the full CSV.
Illustrative example
With the example inputs, estimated initial monthly pension is $2,500.00. Generic salary × service × multiplier formula, reduced by your entered adjustment. Use your plan’s pensionable salary definition. Does not verify vesting, plan caps, survivor options, offsets, or tax; assumed annual COLA is not guaranteed.
These example values are for explanation. They are not current market quotes or personalized recommendations.
Calculation method
Initial annual pension equals pensionable salary × credited service years × multiplier, then applies the entered percentage reduction. Future illustrations increase that annual pension by the assumed COLA.
Assumptions and limitations
Generic defined-benefit formula, not a plan-specific entitlement calculation. No vesting check, early-retirement rule lookup, survivor-election pricing, statutory limits, offsets, lump-sum conversion, tax, or guaranteed COLA. Enter a combined plan reduction only when applicable.
Pension calculator FAQs
Choose a question to read the answer, then try your own numbers in the free calculator.
What salary should I enter?
Use your plan’s pensionable salary measure, such as a specified final-average salary. Do not assume your current pay is the correct figure.
Does this check whether I am vested?
No. Confirm eligibility and credited service with your pension administrator.
Is the COLA guaranteed?
Only if your plan provides it. The input is an assumption for this illustration; zero models a level nominal pension.
Is this calculator free?
Yes. You can calculate and download the breakdown without creating an account.
Are my numbers saved?
The app sends inputs to its calculation API to produce the result, but does not save them in an app database or browser storage.
PFC provides mathematical planning estimates. Tax and retirement rules in these tools are for 2026 and do not update automatically. Check the cited sources and the terms that apply to your situation.