This page contains various calculators that members of the NICS Pension Scheme may find useful.

All calculators on the CSP(NI) website are designed to provide indicative results only and should therefore not be used for the purposes of financial planning

These calculators use Microsoft Excel. If you do not have Excel, or if your system does not allow you to download the calculators, contact us and we will assist you with the calculations. When using the calculators please enable any macros when prompted and ensure all relevant fields are populated. 

Any queries regarding the calculators should be directed to:

Pension Projector Calculator

This projector will provide an illustration of your pension and lump sum at a chosen retirement date. It is not intended to provide you with financial advice. If you require financial advice you should contact an Independent Financial Advisor (IFA). You can find tips on finding an IFA by visiting the Financial Conduct Authority website: 

www.fca.org.uk

    Early Retirement estimator

    This estimator is designed to give you a rough indication of the benefits you might receive if you elect to retire before your Normal Pension Age. It asks you for:

    • the date to which you want your pension calculated
    • the scheme you are in
    • the reckonable service you will have earned up to the date you are thinking of retiring
    • your current pensionable earnings

    Using this information the estimator can work out how much your reduced pension might be if it were taken before your normal pension age. For classic members it will also show you the lump sum that might be available, but please note that this estimator does not take account any of the restrictions that may apply. Refer to the notes attached to this calculator for further details of these restrictions

    The estimator displays the benefits you might get at your selected early retirement date.

    Buying Added Pension

    If you want to take control of your retirement planning by building up more pension for your retirement, then added pension could be for you.

    The Added pension for classic, classic plus, premium, nuvos and alpha leaflet and section 2 of the alpha scheme guide tell you about how added pensions works and the calculators below can help you work out how much you want to contribute.

    Please make sure that you use the estimator for your pension scheme. This ensures you will get an accurate estimate of the cost of buying added pension.

    Added Pension Calculator

    The calculator provides illustrations for buying Added Pension by lump sum and by monthly contributions for the 2019/20 year.  

    Please note that the Added Pension Calculators are for illustrative purposes only and CSP will provide exact details of the cost of purchasing Added Pension to members who submit an application. It is also important to note that the calculator does not take into account the Earnings Cap which limits  the amount of salary which can be used in calculating the pensionable earnings for pension benefits purposes. 

    Please also note that the calculations provided with regard to the applicable limit assume that you have no previous purchases.

    You can apply for Added Pension by using these forms (which can be found on the CSP(NI) website): -

    Effective Pension Age - (EPA) -  estimator

    alpha offers a new way to take control of your retirement planning, called EPA.

    In alpha your Normal Pension Age (NPA) is the same as your State Pension Age (SPA). If you choose to take your alpha pension benefits before your NPA, they would be reduced as they may be paid to you for longer. By making extra contributions you can take the EPA portion of your pension earlier than your NPA without any early payment reduction. 

    Purchasing EPA in the 2018/19 year

    • EPA contributions for the scheme year 18/19 are payable from when you join alpha. If you apply to buy an EPA portion of your alpha pension this will be backdated to your alpha start date. This means that you may have some backdated EPA contributions to pay the first time they are taken from your salary. You will be advised about how the backdated contributions will be collected as part of the application process. 
    • Applications must be received within three months of joining alpha for EPA options to apply from the start date.

    Purchasing EPA in the 2019/20 year

    • Applications to start at the beginning of the next scheme year must be received in good time.
    • The deadline for applying to purchase EPA in the 2019/20 year is 12 March 2019

    The EPA estimator tools let you estimate how much your EPA contributions would be.

    Partial retirement calculators

    You will need a recent benefit statement and your pensionable earnings in your current and planned reshaped job to complete the calculator.

    Partial retirement allows you, with the agreement of your employer, to draw some or all of your pension and remain in work. Your employer has to consider the needs of the business first so you will not have an automatic right to partial retirement.

    You must also be prepared to have your job reshaped  to reduce your earnings by at least 20%. To find out more see booklet Partial retirement - a guide for scheme members. You need to be aware that your pension could be reduced if you take partial retirement. The leaflet What is abatement? will tell you more.

    Please be aware that due to various complexities, the Partial Retirement calculator will only perform calculations for retirements from age 55. Members who wish to retire below age 55 should contact Civil Service Pensions in the first instance.

    When you access the Partial retirement calculator it may open on the results tab. Please click on the 'Enter your details here' tab in the bottom left hand corner of the document. You will then need to click on the results tab after you enter your personal details.

    Please note that this calculator is currently under review. Therefore please treat the results as a rough guide only. CSP(NI) are currently developing a specific calculator for NI members and it will be made available in due course.

    Lump sum calculators

    You will need a recent benefit statement or estimate to complete the calculator.

    If you are thinking about retiring or have already decided to retire, the lump sum calculator will work out what amount of pension you can take in the form of a tax-free lump sum.

    The maximum tax free lump sum for members of classic, classic plus and premium will be increased for anyone leaving on or after 1 October 2007. The calculator below shows the maximum lump sum you can take, based on a given amount of pension and the effect that taking a lump sum would have on your remaining pension.

    Please note that this calculator is for illustration purposes only and manual calculations may be required to incorporate HMRC tax rules.

    There is plenty of supporting information to help you understand the process and tell you about your retirement benefits - use these links to take you to the scheme guide relevant to you:

    Actuarially Reduced Pension Buy-out calculator

    If a member claims their pension early, before scheme pension age, the pension and lump sum (where appropriate) is actuarially reduced to pay for this early payment.

    The member has the option to buy out this reduction and take full pension benefits. The cost of the buy out can be determined by using the buy out calculators.

    The calculator will ask you for your pension details which you can get from your latest Annual Benefit Statement.

    Voluntary Exit Scheme Compensation Calculator

    This calculator will give you an estimate of your compensation if you are considering leaving the NICS through a Voluntary Exit Scheme.

    What are the systems or software requirements to use these tools? 

    • tools are required to be run on Windows versions of MS Excel 2007 (V14) and above
    • although the tools originate from the internet, they are uploaded and hosted by the Civil Service websites and should be considered 'safe'
    • the tools use Macros (VBA) for clearing cells and creating PDFs if required, therefore macros should be enabled to ensure full functionality 

    How do I open the tools?

    • when a tool is first opened click the 'Enabling Editing' button
    • if the password prompt opens click 'Read Only' to continue
    • to ensure full functionality you must enable macros
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