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Government Pension calculator
Your estimated pension
You may not be entitled to a pension. Workers with fewer than 10 years (120 months) of pensionable service who leave during that period do not receive a pension. The figures below are shown for information only. Contact the PAD to confirm your entitlement before making any plans.
Full pension
You receive your full pension amount divided by 12 and paid monthly, plus a gratuity lump sum. Choose this if you want the highest possible monthly income in retirement.
Annual amount
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Monthly payment
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Reduced pension
You receive 75% of your full pension paid monthly. The remaining 25% is converted into a larger gratuity lump sum paid upfront. This may suit you if you want more money at the start of retirement — for example, to pay off a mortgage or cover immediate costs — and can manage on a lower monthly income.
Annual amount
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Monthly payment
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Gratuity (lump sum)
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These figures are estimates only. Contact the PAD to discuss which option suits your circumstances before you retire.
How your pension is calculated
Full pension
A gratuity is paid as a lump sum. The annual pension is divided by 12 and paid monthly.
Formula: (months of service ÷ 600) × last annual salary
Reduced pension
75% of your full pension is divided by 12 and paid monthly. The remaining 25% is multiplied by 12.5 to give your gratuity lump sum.
Formula: full pension × 75%
Gratuity
Formula: (full pension ÷ 4) × 12.5
Mixed service pension
A fixed formula cannot be used for mixed service pensions because several varying factors apply. Contact the PAD for guidance.
More about pensions and gratuities
Things that affect your pension
No-pay leave
No-pay leave does not count towards your length of service.
Temporary continuous workers
- Workers with 10 years or fewer of service who leave during that period will not receive a pension.
- Workers with more than 10 years of service who retire may receive a pension, but only if the post they held was established and vacant.
Medical retirement (retiring due to ill health)
Special provisions apply if you retire because of medical unfitness.
You must have at least 10 years of service but fewer than 20. Your pension will be calculated as if you had 20 years of service, but it cannot exceed what you would have received based on your actual service.
If you retire due to an employment injury, you are eligible for an additional one-sixth of your pension.
Pension abatement
Under the Pensions (Miscellaneous Provisions) Act 1975-31, abatement applies to officers who entered service after 1 September 1975.
If you qualify for both a National Insurance pension and a government pension, you will receive the higher of the two only.
Abatement does not affect your cost of living allowance. If you already receive a pension, your monthly payment will not change — any increase will be paid as a cost of living allowance instead.
Retirement ages
Voluntary retirement
- Age 55 — if appointed before 15 July 1985
- Age 60 — if appointed after 15 July 1985
Compulsory retirement
- Age 66 — from 1 January 2010
- Age 66½ — from 1 January 2014
- Age 67 — from 1 January 2018
Next steps
Once you have your estimate, contact the National Insurance and Social Security Service (NISSS) to discuss your pension options and confirm your entitlement.
National Insurance (NIS) Pensions
NISSS can help you understand your National Insurance Old Age Contributory Pension entitlement alongside any government pension. If you qualify for both, you will receive only the higher of the two.
- Phone: 431-7400 — Ext. 1802, 1803, 1808 or 1824
Sources
The information and formulas used in this calculator are drawn from the following sources:
- Pension Calculations — Treasury of Barbados
- Pensions (Miscellaneous Provisions) Act, 1975-31
- National Insurance and Social Security Act, Cap 47
- Pensions Acts, Caps 25, 30 and 56