Teachers' Pensions

Annual Allowance Calculator

Use the annual allowance calculator to work out if you can top up your allowance.

For the start value, use the end value from the previous period. The end value to use is the value at the end of the selected period.

Example: You select period 2014/2015. 

  • Start: will be end value from March 2014
  • End: value will be from April 2015
Below is your calculated annual allowance. There was an error attempting to load the Annual Allowance calculator, please contact us. It has not been possible to identify the correct CPI factor for the Pension Input Period (PIP) selected. Please select another PIP or contact us. It has not been possible to identify the correct Annual Allowance limit for the Pension Input Period (PIP) selected. Please select another PIP or contact us. The Pension Arrangement you have selected is currently not available on this Annual Allowance calculator. Please select another Pension Arrangement or contact us. The Pension Input Period you selected has not been recognised. Please select another PIP or contact us.
Please select your arrangement Please select a period Please enter your starting salary for the period selected, this must be whole pounds only Please enter your salary at the end of the period selected, this must be whole pounds only Start service must be whole numbers only Ending Service must be whole numbers only Ending service must be provided The service values you provide must be whole numbers only If don't enter your starting service your starting salary must also be 0 Your starting service can't be greater than the service at the end of the period You must provide the Accrued Pension amounts and in whole pounds only The Additional Pension amounts must be whole pounds only Can't have starting Additional Pension if you have no starting service The starting amount of Additional Pension can't be greater than the ending amount You must provide the Accrued Pension amounts and in whole pounds only Starting Accrued Pension can't be greater than ending Accrued Pension
Pension Arrangement 0
Pension Input Period 0
  Start of Period End of Period
Average Salary 0 0
Total Service 0 0
Accrued Pension 0 0
Any Additional Pension 0 0
Here is your result.
Pension Fund GrowthPension Fund Growth

This figure is the estimated growth in your total fund value for the teachers pension arrangement that you selected.

0
Annual Allowance LimitAnnual Allowance Limit

This figure is annual allowance limit for the tax year you selected.

0
0

We've created this Annual Allowance (AA) calculator to assist employers and members in investigating the effect of the AA of £50,000 for tax years from 6 April 2011 to 5 April 2014 and £40,000 from 2014/15 onward. 

You should contact an independent financial or tax advisor if you believe you are affected. You should also seek independent advice and consult other pension administrators if you have benefits elsewhere.

Teachers' Pensions cannot provide financial advice.

For more detailed guidance, you can also refer to the HM Revenue and Customs (HMRC) website.

If the value of the AA charge exceeds £2,000 the individual will have the option for the scheme to pay the tax on their behalf. The member's pension will be reduced according to factors provided by the scheme actuary. The deadline to submit an election is the 31st of July in the following tax year (i.e. submit by July 2016 if you have exceeded in the 2014/15 period).

For illustration purposes only

What this calculator can and can't tell you

  • Will illustrate the estimated growth in the TPS basic pension and any automatic lump sum.
  • Will illustrate whether the total growth in the TPS pension value exceeds the annual allowance.
  • Will illustrate the amount by which the member’s TPS estimated pension growth exceeds their allowance.
  • Will let the member estimate the growth in TPS pension compared to the annual allowance of previous years.
  • Will not incorporate the changes to Annual Allowance for the 2015/16 tax year and beyond.
  • Will not calculate the value of the additional pension elections.
  • Will not combine benefits when you are a member of more than one TPS arrangement.
  • Will not track how much unused allowance the member has from the previous years.
  • Will not calculate your average salary.
  • Will not identify if your average salary is affected by a restricted salary condition.
  • Will not calculate the increase of any AVC’s or other non TPS pension savings.