Calculate your defined benefit pension benefits with support for both final salary and career average schemes. Understand your retirement income from traditional DB pensions.
Calculate your defined benefit pension based on your scheme type, salary, and years of service.
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Based on your scheme's lump sum formula
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Pre-tax annual pension amount
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Estimated capital value at retirement
Important: This calculator provides estimates based on standard DB formulas. Actual benefits may vary based on your specific scheme rules, service history, and individual circumstances. Always request official figures from your pension administrator.
If your pension is based on pay at retirement, the Final Salary Pension Calculator Ireland is the most direct comparison point.
You can also review inflation-linked accruals with the career average pension tool, test public service assumptions in the public service pension calculator, or browse the wider Ireland pension calculator hub.
Typical accrual rate is 1/80th (1.25%) per year of service, with lump sum at 3/80ths.
Career average salary is typically revalued annually by CPI or other inflation measure.
Integration reduces your occupational pension to account for State Pension benefits.
Final Salary €60,000, 30 years service, 1/80th accrual
Career Average €50,000, 25 years service, 1.25% accrual
A defined benefit (DB) pension provides a guaranteed retirement income based on your salary and years of service, rather than investment returns. The benefit is defined by a formula.
Final salary schemes base your pension on your salary at retirement, while career average schemes base it on your average earnings throughout your career, typically revalued for inflation.
Accrual rates determine how much pension you build up each year. For example, 1/80th means you accrue 1.25% of your salary as annual pension for each year of service.
Integration reduces your occupational pension to account for State Pension benefits, ensuring your total retirement income is appropriate.
Many DB schemes allow you to exchange part of your annual pension for a larger tax-free lump sum at retirement, subject to Revenue limits.
This calculator provides estimates based on standard DB formulas. Actual benefits depend on your specific scheme rules, service history, salary progression, and individual circumstances. Always request official figures from your pension administrator.
Disclaimer: This calculator provides estimates only based on standard defined benefit formulas. For official calculations, contact your pension administrator or HR department. Always seek professional financial advice for major retirement decisions.