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What you will retire with

NPS, PF, gratuity, leave encashment and your pension at 60, from today’s pay. Change any assumption and see it move.

  • Free
  • No sign-up to calculate
  • Rules as on 12 November 2026 · DA 31.33%
1You and your pay
Your stage in the 12th BPS pay scale, shown as “Basic” on your payslip.
years
years
Left blank, we take it you joined at 25.
2NPS
From your NPS statement (CRA app or website).
%
A year. Equity-heavy funds have earned more, with ups and downs.
%
Pension a year per ₹100 of annuity.
Lump sum at 60
Bank staff (NPS corporate model) can take up to 80% once the corpus is over ₹12 lakh; only 60% is tax-free.
3PF and leave
NPS members have no bank PF; enter a balance only if you have one.
Old pension scheme: 10% of basic, filled in for you.
%
Your bank’s PF trust rate.
days
Up to 255 days.
4Assumptions
%
Increments, DA and pay revisions together.
%
For “today’s money”.

Working it out…

How this is worked out

Your basic + DA grows each year by the rate you set (increments, DA and pay revisions together). Each month 24% of it goes into NPS (yours 10%, the bank’s 14%) and grows at the NPS return; PF grows the same way from its balance. At 60 we take your projected last pay for gratuity and leave encashment.

Gratuity is the higher of 15/26 × last basic + DA × completed years and one month’s basic a year (up to 15, plus half a month a year beyond 30), within the ceiling. Leave encashment is last basic + DA ÷ 30 for each day of PL. NPS is split into the lump sum and the annuity you choose; the annuity rate gives the monthly pension. Old pension: 50% of last basic × service/33, with dearness relief at today’s rate.

Questions bankers ask

How is a bank employee’s gratuity worked out?

Banks pay the higher of two: under the gratuity law, 15/26 of your last basic + DA for each completed year of service; and under the bank’s own rule, one month’s pay for each year up to 15 months, plus half a month for each year beyond 30. Both are subject to the ₹20 lakh ceiling. Bank unions are seeking ₹25 lakh; tick the box to see that figure.

How many days of leave can I encash at retirement?

Up to 255 days of privilege leave under the 12th BPS (PL can be accumulated up to 270 days, so take the extra days as leave before you retire). Each day is worth your last basic + DA divided by 30.

How much NPS do bank staff contribute?

Staff who joined on or after 1 April 2010 pay 10% of basic + DA, and the bank adds 14%. At 60, a part buys an annuity that pays a monthly pension and the rest can be taken as a lump sum.

Can I take 80% of my NPS as a lump sum?

Yes, if your corpus is above ₹12 lakh. Bank staff are in NPS’s corporate model, a non-government category, and since December 2025 PFRDA lets these subscribers take up to 80% as a lump sum with 20% in an annuity. Only 60% of the corpus is tax-free, so taking more costs tax.

How is the old pension worked out?

For staff in the old pension scheme, basic pension is 50% of average pay of the last 10 months for 33 years of qualifying service, and proportionately less for fewer years (at least 10). Dearness relief is added. Family pension is 30% of last pay.

Why show “today’s money”?

A rupee at 60 buys less than a rupee today. Dividing by expected inflation shows what your retirement money is worth in today’s prices, which is easier to plan with.

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Indicative figures for planning. They follow the 12th Bipartite Settlement and 9th Joint Note (8 March 2024), IBA’s DA circular of 2 November 2026 and the Income-tax Act, 2025, as on 12 November 2026. Your bank’s payslip, service regulations, circulars and Form 16 prevail. Bankers Pioneer Academy is independent; not affiliated with IBA, IIBF, the Reserve Bank of India or any bank. Nothing you type here leaves your device.