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How does this Pension Calculator Work?
This is simply an MS Excel Calculation Sheet. You just have to know the following figures:
- Last Basic Pay
- Total Length of Service
- Age Rate that I have given in the calculator
If the employee is getting Personal Pay (PP), we shall also add it to the basic pay last drawn. If the employee has more than 30 years of service, we only count 30 years of service for pension calculation. Suppose an employee has served for 40 years, we shall take only 30. However, if the employee has less than 30 years of service then we shall take the actual figure of his/her service.
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