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SBI Pension Calculator

Work out your monthly pension, commutation lump sum, gratuity and leave encashment under the SBI Pension Fund rules, with the steps shown so you can check every figure.

Uniform 50% pension rule (from 10 Nov 2023)DR Aug 2026 to Jan 2027Rules checked 12 Oct 2026
Joined SBI before 1 Aug 2010You are in the SBI Pension Fund. You get every result: pension, commutation, gratuity and leave encashment.
Joined on or after 1 Aug 2010You are under NPS. You get gratuity and leave encashment. NPS pension depends on your corpus, so it is not calculated here.
Step 1 of 3About you
Or the date you joined the Pension Fund, if later.
Enter both dates to see your retirement date and scheme.
Staff category
Step 2 of 3Monthly pay
₹
Your basic pay at retirement. Still working? Enter what you expect to draw in your last month, or today's figure for a rough estimate.
₹
The DA amount on your pay slip. Used for gratuity and leave encashment.
Add PQP, FPP or a different 12-month average
₹
Professional qualification pay.
₹
Only the increment component, not the fixed part.
₹
Pension uses this average. Leave empty to use your basic pay above.
Step 3 of 3Leave and choices
Up to 255 days can be encashed at retirement (240 if you retired before 1 April 2024).
Service breaks and DR rate
Leave empty to use the current SBI rate for your retirement date. Enter a figure to test a different rate.

Sample figures are loaded so you can see how it works. and enter your own.

Planning your retirement?
The full guide covers NPS vs old pension, documents, deadlines and common mistakes.
Read the SBI retirement guide

How SBI calculates each benefit

Every figure above follows the SBI Employees' Pension Fund Regulations, the SBI Handbook for Retiring Officials (March 2023) and the Payment of Gratuity Act. Here is each rule in plain words.

Your retirement date

You retire on the last day of the month in which you turn 60. In law you turn 60 on the day before your 60th birthday, so if you were born on the 1st of a month you retire on the last day of the previous month. Born on 1 March 1966: you retire on 28 February 2026.

Basic pension: the 50% rule

SBI works out two figures and pays the lower one:

  1. Service figure: average substantive salary of the last 12 months x pensionable months / 720. Substantive salary is basic pay plus PQP and the FPP increment part.
  2. Maximum: 50% of your average basic pay, plus half of PQP and half of the FPP increment part.

Because 360 months is 30 years, you reach the full 50% pension after 30 years of pensionable service. With fewer years, your pension is proportionally lower. You need at least 10 years of pensionable service to get any pension at 60.

Changed in 2023: SBI used to pay 40% of salary above a threshold (₹51,490 under the 10th settlement). Since 10 November 2023 everyone gets a uniform 50%. Calculators and articles that still use the 40% rule show a pension up to a quarter too low.

Dearness relief (DR)

DR is added to your full basic pension, even after you commute. It is revised every February and August, and the rate depends on when you retired.

Rates payable from August 2026 to January 2027.
You retiredDR on basic pension
On or after 1 Nov 202227.83%
1 Nov 2017 to 31 Oct 202262.37%
1 Nov 2012 to 31 Oct 2017136.90%
1 Nov 2007 to 31 Oct 2012265.50%
1 Nov 2002 to 31 Oct 2007343.26%

Retiring after January 2027? The rate will change before then, and a new wage settlement is due from November 2027. The calculator uses today's rate and tells you so.

Commutation

You can take up to one-third of your basic pension as a lump sum. The lump sum is one-third of basic pension x the commutation factor x 12. SBI's factor for someone retiring at 60 is 6.60 (the factor for age 61, your next birthday). Your basic pension is reduced by the commuted amount for 15 years and then restored. DR stays on the full basic pension throughout.

Gratuity

SBI pays gratuity to Pension Fund members under the Payment of Gratuity Act: 15 days' wages for each completed year, using a 26-day month. Wages are basic pay + DA + PQP + FPP increment part (award staff also add personal and officiating allowances). A part year of more than six months counts as a full year. The maximum is ₹20 lakh, unchanged as of August 2026.

Leave encashment

You can encash up to 255 days of privilege leave if you retire on or after 1 April 2024, when the 12th Bipartite Settlement (award staff) and the 9th Joint Note (officers) raised the limit. Before that date the limit was 240 days. The calculator uses one day's pay as (basic + DA) / 30. For non-government employees, leave encashment at retirement is tax-free up to the government-notified limit of ₹25 lakh, in force since 1 April 2023 and now covered by section 19 of the Income-tax Act, 2025. For most SBI retirees it is fully tax-free.

What this calculator does not cover

  • NPS pension for staff who joined on or after 1 August 2010. It depends on your NPS corpus and annuity choice.
  • Provident Fund balance. Check it in HRMS under your PF statement.
  • Voluntary or early retirement, and family pension.
  • DR for those who retired before November 2002. Older DR rules use slabs; enter your rate in the DR field instead.
  • Future pay rises. Results use the pay you enter. If you retire years from now, your real pay and DR will be different.

Questions SBI staff ask

How much pension will I get from SBI after 30 years?
After 30 years of pensionable service you get the full pension: 50% of your average basic pay of the last 12 months, plus half of PQP and half of the FPP increment part, plus DR. Service beyond 30 years does not raise the pension further.
Is SBI pension still 40% for officers?
No. SBI amended Regulation 23 with effect from 10 November 2023, and pension is now a uniform 50% for all grades. Pensioners who retired earlier get the revised amount from 10 November 2023, without arrears for the period before.
Why is the SBI commutation factor only 6.60?
SBI uses its own commutation table, which gives 6.60 at age 61. Most other public sector banks use a higher factor, around 9.81 at the same age, so an SBI lump sum is smaller for the same pension. Restoration after 15 years is the same.
I joined SBI after 2010. Do I get a pension?
Staff who joined on or after 1 August 2010 are under the National Pension System, not the SBI Pension Fund. Your pension depends on your NPS corpus. You still get gratuity and leave encashment, which this calculator works out.
Is SBI gratuity capped at ₹20 lakh?
Yes. Gratuity under the Act is capped at ₹20 lakh. Bank unions have asked for ₹25 lakh, but the ceiling for bank employees was still ₹20 lakh as of August 2026.
What is the current DR for SBI pensioners?
From August 2026 to January 2027 it is 27.83% for those who retired on or after 1 November 2022, and 62.37% for those who retired between 1 November 2017 and 31 October 2022. The table above lists every period.
Is leave encashment taxable at retirement?
Leave encashment at retirement is tax-free up to ₹25 lakh in your lifetime for non-government employees, which includes SBI. The exemption is also limited to 10 months' average salary, so most retirees pay no tax on it.

Check the rules yourself

These are the official documents behind every number on this page:

This is an independent estimate, not an official SBI tool. For your final figures, apply through HRMS and confirm with the PPG department at your Local Head Office at least three months before you retire.

Spotted a rule change?

Send us the SBI circular and we will check it and update the calculator.

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