Pension Calculator
Calculate your pension benefits, retirement income, gratuity, and other retirement benefits. Suitable for government employees, private sector employees, and NPS subscribers.
Pension Calculation Details
Pension Type
Employee Pension Scheme (EPS)
Select your pension scheme type
Current Age
35 years
years
Your current age (20 to 60 years)
Retirement Age
58 years
years
Age at which you plan to retire (50 to 65 years)
Basic Salary + DA
₹50,000
₹
Basic salary + Dearness Allowance (₹15,000 to ₹2,50,000)
Years of Service
20 years
years
Total years of service (1 to 40 years)
Pensionable Salary (Avg. last 60 months)
₹45,000
₹
Average salary of last 60 months for EPS calculation
Monthly Pension
₹22,500
Employee Pension Scheme (EPS)
20 years
Pensionable Service
₹45,000
Pensionable Salary
50%
Pension Formula
Pension Calculation Details
Basic Pension
₹22,500
Commuted Pension
₹6,750
Restored Pension
₹15,750
Family Pension
₹11,250
Gratuity Calculation
Last Drawn Salary
₹50,000
Years of Service
20 years
Gratuity Formula
(15 × Last Salary × Service Years) / 26
Total Gratuity
₹5,76,923
Pension Scheme Comparison
| Scheme | Monthly Pension | Gratuity | Total Benefits |
|---|---|---|---|
| EPS | ₹22,500 | ₹5,76,923 | ₹1.1 Cr |
| NPS | ₹12,631 | ₹5,76,923 | ₹95.6 L |
About Pension Schemes
Pension schemes provide financial security during retirement. Different schemes like EPS, NPS, and government pensions have varying benefits, eligibility criteria, and calculation methods.
Types of Pension Schemes in India
Employee Pension Scheme (EPS)
Covers employees in the organized sector under EPFO. Provides pension based on pensionable salary and service years.
Formula: Pension = (Pensionable Salary × Pensionable Service) / 70
National Pension System (NPS)
Voluntary, defined contribution pension system open to all citizens. Offers market-linked returns.
Formula: Corpus = Monthly Contribution × [(1+r)^n - 1] / r × (1+r)
Government Pension
For government employees. Provides pension based on last drawn salary and service years.
Formula: Pension = 50% of Last Drawn Salary
Key Pension Benefits
- Monthly Pension: Regular income during retirement
- Gratuity: Lump sum payment based on service years
- Commutation: Option to receive part of pension as lump sum
- Family Pension: Pension for spouse after employee's death
- Death Benefits: Financial support to family in case of employee's death
Note: Pension calculations are based on current rules and regulations. Actual benefits may vary based on government policies, employer contributions, and scheme amendments. For accurate pension planning, consult with your employer or pension fund authority.