Pension Calculator

Pension policies vary by different organizations. Many employees may need to make a few very important pension related decisions before retirement. Once the decisions were made, normally, they cannot be changed later. The following calculators help evaluating 3 of the most common situations.

Lump Sum Payout or Monthly Pension Income?

Lump sum payout means the employer pays the retiree a big amount upfront as pension and clears the pension liability with the retiree (buyout). Monthly pension income means the employer pays recurring amounts to the retiree until the retiree dies (sometimes, until both the retiree and the spouse dies).

Your Retirement Age 
 
If Take the Lump Sum Payment Option
Lump Sum Payment Amount$ 
Your Investment Return% per year
If Take the Monthly Pension Income Option
Monthly Pension Income$per month
Cost of Living Adjustment1% per year
 

Single Life or Joint and Survivor Pension Payout?

Single life pension means the employer will pay the worker's pension until his or her death. This payment options offers the higher payment per month but pays out no benefits to a spouse who outlives the retiree. On the flip side, joint and survivor pension payout pays out a lower payment per month. But when the retiree dies, the surviving spouse will continue to receive the benefit for his or her entire lifetime.

Your Retirement Age 
Your Life Expectancy 
Spouse's Age When you Retire 
Spouse's Life Expectancy 
Single Life Pension$/month
Joint Survivor Pension$/month
Your Investment Return% per year
Cost of Living Adjustment1% per year
 

Should You Work Longer for Better Pension?

Sometime, you may qualify for retiring at certain age. Yet if you choose to work longer, you may get higher monthly payments.

Pension Option 1
Retirement Age 
Monthly Pension Income$per month
Pension Option 2 (Work Longer)
Retirement Age 
Monthly Pension Income$per month
Other Information
Your Investment Return% per year
Cost of Living Adjustment1% per year
 


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1. Cost of living adjustment—many companies gradually increase the monthly pension payout amount based on the cost of living increase or inflation rate. If you do not have such adjustment, just use 0 in the form.