Pension Calculator

Most defined benefit pensions use: Annual Pension = Final Average Salary × Years of Service × Multiplier. Common multipliers range from 1.5% to 2.5%. For example, $80,000 salary × 25 years × 2% = $40,000/year pension.

Pension multipliers typically range from 1.5% to 2.5%. Government and public sector pensions often offer 2-2.5%. With a 2% multiplier and 30 years of service, you would receive 60% of your final salary as a pension.

A survivor benefit ensures your spouse or beneficiary continues receiving pension payments after you pass away. Choosing a survivor benefit reduces your monthly pension (typically 5-15% reduction) in exchange for ongoing payments to your beneficiary.