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Pension Income Calculator
Estimate your defined-benefit pension monthly payment at retirement.
About This Calculator
Most public-sector pensions use a formula of years × final salary × multiplier (typically 1.5%–2.5%). A teacher with 30 years at a $65,000 final salary and 2% multiplier earns $39,000/year — replacing 60% of pre-retirement income. Taking early retirement at 55 vs 60 can permanently reduce benefits by 25%–35% depending on the plan rules.