The Partial Retirement Calculator can be accessed from the partial retirement page of the website: Partial retirement | NHSBSA
With partial retirement, you can take up to 100% of your pension, stay in your job, and carry on building up new pension benefits in the 2015 Scheme. To plan a partial retirement that’s right for you, use the Partial Retirement Calculator to see:
- how much lump sum and annual pension you might want to claim when you take partial retirement
- the amount your pension benefits will grow for every year you carry on working as a member of the 2015 Scheme, helping you to plan when might be the best time to fully retire; the calculator will show you figures for up to 8 years in the future
- any impact on your benefits caused by ‘abatement’ in the first 12 months after your partial retirement – this may apply if:
- The terms on which the continuing NHS employment(s) are held change again or the member begins a new NHS employment as an active or a non-contributing member (a member who is no longer required to make contributions to the Scheme); and
- The sum of the pensionable pay from all employment(s) held by an Officer member is more than 90% of the pensionable pay on which the decision to allow drawdown was assessed; or
- The level of engagement of a Practitioner member is more than 90% of the commitment on which the decision to allow drawdown was assessed
- for members affected by McCloud, how much your pension is worth depending on the benefits you choose for your pensionable service between 1 April 2015 and 31 March 2022
- what percentage of your pension to take at partial retirement to avoid having to repay overpaid pension when you make your McCloud choice later on; this is referenced in the calculator as your ‘safe percentage’
Further details on the information you’ll need to have to hand are also available on the partial retirement page of the website: Partial retirement | NHSBSA
Using the calculator
If you have any difficulties accessing the calculator, try clearing the cache and cookies in your web browser. If you're unsure how to do this, there are guides available online - this process can differ depending on the web browser you're using.
You may need to adjust the zoom in your web browser to view the calculator fully.
Some members may need to ask us for an estimate instead
The partial retirement calculator can help the majority of members who might consider partial retirement. However, some members may have more complex circumstances that mean an estimate from NHS Pensions will be more accurate that the figures shown by the calculator.
Further details of the member types who should ask us for an estimate rather than use the calculator are available on the partial retirement page of the website: Partial retirement | NHSBSA
To request an estimate, you should use the updated Partial Retirement Member Estimate form on our website.
Applying for partial retirement
We recognise that some members may have been waiting for the calculator before submitting their partial retirement application. You will be able to retrospectively apply for partial retirement from 1 October 2023 and we will backdate payments to your chosen partial retirement date. To do this, you need to include the date you want your partial retirement to start from, for example 1 October 2023, on the application form.