Estimate only — in today's money. Your annual benefit statement and the Teachers' Pensions calculator are the official figures: teacherspensions.co.uk.
Estimated pension at 67
£39,382 a year
About £3,282 a month before tax, in today's money
- Pension built by 67
- £39,382
- Early retirement factor
- None (at or after pension age)
- At pension age 67
- £39,382 a year
- Effect of retiring at 67
- —
The maths
- Each year you build 1/57 of that year's pay: £46,940 ÷ 57 = £824
- Each year, pension already built grows by CPI + 1.6% (shown here as +1.6% in today's money)
- 32 years of building gives £39,382 a year
- No reduction: retiring at or after your normal pension age
- Estimate = £39,382 × 1 = £39,382
Excludes any final salary benefits, lump sum choices, Additional Pension and tax. Early retirement factors are reviewed by the scheme actuary and may change.
Sources: Teachers' Pension Scheme Regulations 2014 (career average section) (from 1 Apr 2015); Teachers' Pension Scheme Regulations 2014 (CPI + 1.6% in service) (from 1 Apr 2015); GAD early retirement factors, Table ER7 (TPS career average, active members) (from 24 Jun 2019). Last checked 5 Nov 2026. How we calculate
How the estimate works
Everything is shown in today's money, so we grow pension already built by 1.6% a year (the part above inflation) and your pay by whatever growth above inflation you enter. Final salary benefits from before 2015 are not included.
Frequently asked questions
What is my normal pension age?
For career average benefits it's your State Pension age (66, 67 or 68 depending on when you were born).
How much is my pension reduced if I retire early?
There's an actuarial reduction before 65 and a standard 3% a year between 65 and your normal pension age (maximum 3 years). Retiring at 60 with a pension age of 67 keeps about 73% of your pension.
Where can I see my real pension?
Log in to your Teachers' Pensions account for your annual benefit statement and the official calculators.
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- Teachers' pension calculatorContribution band, monthly cost, employer contribution and pension built.
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- Take-home pay calculatorSalary to monthly take-home after tax, NI, pension and student loan.
- Part-time teacher calculatorFTE, pro-rata salary, directed time and PPA.
Sources: Teachers' Pension Scheme Regulations 2014; GAD early retirement factors (June 2019). Figures checked 5 Nov 2026. This is a guide, not financial advice — your payslip and contract are the final word. How we calculate.
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