This pension calculator covers all four pension systems Indians actually retire on: the National Pension System (NPS), the Unified Pension Scheme (UPS) for Central Government staff, the Old Pension Scheme (OPS) and the EPFO’s Employees’ Pension Scheme (EPS-95). Pick the system, enter a few numbers and see your monthly pension.
Pension formulas used for each system
| System | Who it covers | Monthly pension formula |
|---|---|---|
| NPS | Govt staff who joined from 2004 (Centre), most states, private and self-employed | Annuity purchase x annuity rate / 12 |
| UPS | Central Govt NPS employees who opted for UPS | 50% of average basic pay of last 12 months (25+ yrs service), proportionate from 10 yrs, min Rs. 10,000, plus DR |
| OPS | Central Govt employees appointed before 1 Jan 2004 | 50% of last basic pay (or 10-month average), min Rs. 9,000, plus DR |
| EPS-95 | EPFO members in private sector | Pensionable salary x pensionable service / 70, min Rs. 1,000 |
NPS pension: how much corpus gives how much pension
NPS pension depends only on two things: how much you put into the annuity and the annuity rate you get. At 6.5%:
| Annuity purchase | Monthly pension | Yearly pension |
|---|---|---|
| Rs. 10 lakh | Rs. 5,417 | Rs. 65,000 |
| Rs. 20 lakh | Rs. 10,833 | Rs. 1,30,000 |
| Rs. 50 lakh | Rs. 27,083 | Rs. 3,25,000 |
| Rs. 1 crore | Rs. 54,167 | Rs. 6,50,000 |
To find the corpus you need first, use the NPS calculator or NPS contribution calculator. To compare insurers’ annuity options, use the NPS annuity calculator.
UPS pension in one line
If your average basic pay in the last 12 months is Rs. 1,20,000 and you have 25 years of qualifying service, UPS pays Rs. 60,000 a month plus Dearness Relief. With 15 years, it is 15/25 of that, or Rs. 36,000. With 10 years, the floor of Rs. 10,000 applies if the formula gives less. Full details: UPS calculator and UPS guide.
Old Pension Scheme and commutation
Under OPS, pension is 50% of last basic pay. You may commute up to 40% of it for a one-time lumpsum: commuted value = commuted pension x 12 x commutation factor. At 61 next birthday the factor is 8.194, so commuting Rs. 20,000 of a Rs. 50,000 pension gives about Rs. 19.67 lakh. The commuted part is restored after 15 years. Family pension is 30% of last basic plus DR.
EPS-95 pension for private employees
EPS pension is small because the pensionable salary is capped at Rs. 15,000. With 30 years of service (32 counting the 2-year bonus for 20+ years), the maximum is Rs. 15,000 x 32 / 70, which is about Rs. 6,857 a month. You need at least 10 years of service for a pension; below that you can withdraw the EPS amount. Your EPF corpus is separate: see the PF calculator.
Frequently asked questions
Which pension is better: NPS, UPS or OPS?
OPS gives the highest guaranteed pension but is closed to new entrants. Between UPS and NPS, UPS gives an assured, inflation-linked pension while NPS usually gives a far larger lumpsum and a corpus your family can inherit. Run both in the UPS vs NPS calculator.
What is the minimum pension in UPS?
Rs. 10,000 a month (plus Dearness Relief) for employees with at least 10 years of qualifying service.
Is NPS pension taxable?
Yes. Annuity income is added to your income and taxed at your slab rate. The lumpsum (up to 60% of corpus) is tax-free.
How is EPS pension calculated?
Pension = pensionable salary x pensionable service / 70. Pensionable salary is the average of the last 60 months, capped at Rs. 15,000 for most members.
Sources
- Department of Pension & Pensioners’ Welfare (CCS Pension Rules 2021, UPS Rules 2025)
- EPFO (EPS-95)
- PFRDA