Free calculator

NHS pension lump sum calculator

Swap some yearly pension for a tax-free lump sum and see the trade-off.

Yearly pension before taking a lump sum (£)

Maximum tax-free lump sum

£64,286

Yearly pension falls to £9,643

Exchange rate: £12 of lump sum for every £1 of pension
Pension given up: £5,357

For 2015 Scheme benefits. The 1995 section also gives an automatic lump sum of 3× pension. Check your Total Reward Statement.

Is commuting worth it?

At £12 for every £1 a year, you get back the pension you gave up after about 12 years of retirement. Think about your health, other savings and tax before you decide.

Estimates only, using national rates. Your payslip and your employer's policies are what count.

Related calculators

NHS pension calculator NHS pension tier lookup All calculators →