Our calculators haven't yet been updated to reflect the Transitional Protection changes.
Flexibilities Calculator
Step 1 of 2
Your estimate
Your Faster Accrual inputs were:
Accrual Rate
Current Age
Pensionable Earnings
Your Faster Accrual calculation is as follows:
Based on the above, you will be required to pay regular contributions of
Additional Cost for the Year (faster accrual only)
Total Pension Amount for the Year
Standard Pension Amount for the Year
Your calculation is as follows:
An error occurred during your chosen flexibilities calculation, please try completing the process again.
Did you know?
You can see exactly how much pension you have earned to date with My Pension Online.
What this calculator can and can't tell you
The maximum overall extra pension that can be purchased in each arrangement of the Teachers’ Pension Scheme is adjusted in line with Pensions Increase. Visit our updates (This link opens in a new window) page for the current maxima.
Our calculators haven’t yet been updated to reflect the changes being introduced because of Transitional Protection. The results don’t include the changes required for the remedy period (1 April 2015 to 31 March 2022). More information on Transitional Protection is available in Scheme Changes .
Extra pension built up in one arrangement does not count toward the allowance in the other arrangement.
If you have previously taken up one of the pension flexibilities then the revalued pension benefits they represent will count towards the remaining extra pension available in the respective scheme arrangement.
Please note that this calculator does not take any prior purchase of pension flexibilities into account and you may not be able to purchase the amount of extra pension you have modelled in the calculator. When applying for flexibilities online you will not be permitted to make a selection that will cause you to exceed the extra pension maxima.
If your NPA is 60 you are permitted to make an Additional Pension election that will end after you reach age 60, but the payment period must cease before your 65th birthday. This calculator does not cater for this scenario, but if you apply online you will be able to view the cost before confirming the election.
Additional pension is available in amounts of £250 per annum. It can either be bought for the member only or to provide member and dependants’ pensions. Once bought, the pension is revalued up to the date of retirement.
You can purchase an additional pension solely for personal benefits or for a combination of personal and partners’ benefits. The partner’s pension will be half of your own additional pension. You cannot purchase additional pension after normal pension age (NPA), except if you are in pensionable employment after NPA 60.
The overall amount of extra pension that can be purchased is subject to limits, which are index-linked and adjusted annually. Details of the current maxima are available in the Updates section.
In career average, your pension builds up based on a standard rate of 1/57th of your pensionable earnings. You can elect to purchase a faster build-up, known as the accrual rate, by paying higher contributions.
You’ve one month to make an election from when you join the career average arrangement or new employment. Each Faster Accrual election lasts for a maximum of one year and ceases at the end of the Scheme year, which runs from 1 April to 31 March. Subsequent elections must be received by Teachers’ Pensions by 31 March to cover the next Scheme year.
The accrual rates a member can elect to purchase are: 1/55th, 1/50th or 1/45th
If you’re in the Career Average arrangement you can purchase Faster Accrual, Buy Out and Additional Pension. The overall amount of extra pension that can be purchased is subject to limits, which are index-linked and adjusted annually. Details of the current maxima are available in the Updates section . For further details on the other flexibilities that are available read our general factsheet on flexibilities .
From 1 April 2015 if you’re in career average you’ll be able to Buy Out that actuarial adjustment for up to three years, depending on the number of years between 65 and your career average NPA. You’ll pay higher contributions subject to an overall flexibilities limit.
A Buy Out election that takes you above the flexibilities limit will be permitted, but you will not be able to take any further flexibilities whilst the Buy Out election is in place. For 2016-2017 the limit in the career average arrangement is £6,600. For example: if your career average NPA is 66 you’ll be able to Buy Out up to one year’s actuarial adjustment; if your NPA is 67 you’ll be able to Buy Out up to two years; and if your NPA is 68 you’ll be able to Buy Out up to three years.
If you’re in the Career Average arrangement you can purchase Faster Accrual, Buy Out and Additional Pension. The overall amount of extra pension that can be purchased is subject to limits, which are index-linked and adjusted annually. Details of the current maxima are available in the Updates section . For further details on the other flexibilities that are available read our general factsheet on flexibilities .