EPS Pension Calculator

What monthly pension will EPS actually pay you?

Your monthly Basic + DA (EPS counts at most ₹15,000 of it)₹

Years of pensionable service (+2 bonus years added after 20) yrs

Of which service before Sep 2014 (that era's wage cap was ₹6,500) yrs

Defer the pension by (each year adds 4%; max 2) yrs

Age you start drawing it (58 is full pension; 50-57 is reduced 4%/yr) yrs

Your tax slab in retirement (0 if total income stays under the rebate limit)%

Assumed inflation%

Years until you start drawing it (for the today's-money card) yrs

Monthly EPS pension

₹0

After tax

₹0

In today's money

₹0

what it will feel like when it starts

Your salary vs the ₹15,000 EPS wage cap

Uses the EPS-95 formula EPFO's own estimator uses — pensionable salary × pensionable service ÷ 70 — with the parts EPFO's page doesn't show: pensionable salary is capped at ₹15,000/month no matter what you earn (that cap, unchanged since 2014, is why EPS pensions feel small), service above 20 years earns 2 bonus years, and drawing early (from 50) cuts the pension 4% for every year before 58. Pension is also floored at ₹1,000/month. Members who opted for higher-wage pension under the 2022-23 Supreme Court window follow different math — this models the standard capped case.

Tax: EPS pension is fully taxable as salary income at your slab (it also gets the pensioner's standard deduction, and under the new regime a total income up to ₹12L pays nothing — so for most EPS-scale pensions the real tax is zero; set the slab accordingly). Remember EPS is only one leg of the same job's retirement: the EPF corpus (see the EPF Calculator) is the other, larger leg, and it's tax-free.

What to work out next

Retirement Corpus Calculator

Find the corpus you need to retire on your terms.

NPS Calculator

Corpus, tax-free lump sum, and the pension after tax and inflation.

SWP Calculator

See how long a withdrawal plan makes your corpus last.

EPF Calculator

Project your provident fund at retirement.

Inflation Calculator

See what today's rupee is worth years from now.

SCSS Calculator

Estimate quarterly interest from a Senior Citizens Savings account.

Frequently asked questions

How much do I actually need to retire comfortably?

It depends on your expected post-retirement expenses, life expectancy, and inflation between now and then -- there's no single universal number. A common starting approach is estimating your annual expenses in today's money, inflating them to your retirement year, and sizing a corpus that can sustain withdrawals for your expected retirement length.Read more: EPS: The Pension That Time Forgot — Frozen at Rs 15,000 Since 2014

What's the difference between EPF, PPF, and NPS?

EPF is employer-linked, mandatory for many salaried employees, with employer matching. PPF is a voluntary, government-backed 15-year scheme open to anyone. NPS is a market-linked retirement account with its own tax benefits (including an extra deduction under 80CCD(1B)) and a mandatory annuity portion at exit. Many people use more than one together.Read more: Your “Safe” Government Scheme Has a Stock Market Bet Built In

When should I start planning for retirement?

As early as possible -- the effect of compounding over a longer time horizon typically matters more than the exact monthly amount you invest. Starting in your 20s versus your 40s can mean needing a dramatically smaller monthly contribution to reach the same retirement corpus.Read more: PMVVY’s Locked 7.4% Rate Is Gone — What Retirees Are Left With Instead

How does inflation affect my retirement corpus?

Inflation erodes purchasing power every year between now and retirement, and continues to erode it throughout retirement itself. A corpus that looks large in today's terms can fall well short in real terms decades from now -- which is why this calculator shows results in both nominal and inflation-adjusted, "today's money" terms.Read more: Your “Guaranteed” EPF Has Rs 2.34 Lakh Crore Sitting in the Stock Market

Estimates only, not financial advice. See our Disclaimer.