[skip to content]

< Home

How much will I get when I retire?

Your pension at normal retirement age will be 1/60 (the accrual rate) times your final pensionable salary for each year of pensionable service. This is calculated as follows:

1/60 x Final Pensionable Salary x Pensionable Service = annual pension


Jane retires with a Final Pensionable Salary of £25,000 after completing 30 years of Pensionable Service. Her pension is calculated as follows:

1/60 x £25,000 x 30 = £12,500 a year

If you are female and joined the Scheme before 1 July 1974, your accrual rate will be 1/55 for all your Pensionable Service. If you are male and joined the Scheme before 1 July 1974, your accrual rate will also be 1/55 for Pensionable Service from 17 May 1990 up to age 55.

For information on the Pensionable Pay Cap, please refer to the Pensionable Pay Cap Explanation.

Please note that a state pension deduction will apply to your pension if you joined the Scheme after June 1974.

Your annual pension statement sets out how much you could get when you retire. If you would like more pension when you retire, there are various ways of Increasing Your Retirement Income.

You also have the option of taking some of your pension at retirement as a tax-free cash sum and you will be entitled to Pension Increases In Retirement.

Part-time working

If you work or have worked part-time, your pension will be calculated in the same way as it’s calculated for someone who works full-time. The only difference is that your Pensionable Service will be pro-rated for any part-time period. Your Final Pensionable Salary will be the full-time equivalent.


Jane retires after completing Pensionable Service of 10 years working full-time (35 hours) followed by 12 years working 20 hours per week with a Final Pensionable Salary of £6,000.

Corresponding full-time salary: £6,000 x 35 (full-time hours) / 20 (part-time hours) = £10,500

Pension: 1/60 x £10,500 x 10 (full-time hours) = £1,750 a year

Plus: 1/60 x £10,500 x 12 x 20 (part-time hours) / 35 (full-time hours) = £1,200 a year

Total pension: £2,950 a year

Right column