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Military Retirement Calculators The Department of Defense uses a multi-step formula to compute your retired pay. The amount generally is based on your length of service or your disability percentage. Factors such as the year you entered service and your retirement type also affect your pay.How much is my military pension if I am still serving?
Service members who entered the armed forces before Sept. 8, 1980, and are still serving can use the Final Pay Calculator to estimate their future military pension amount. Of all the retirement plans, the Final Pay system uses the simplest formula. You’ll receive 2.5% of your final monthly basic pay for every year of service.How is the retirement multiplier calculated for years of service?
For both the Final Pay and High-36 retired pay plans, each year of service is worth 2.5% toward the retirement multiplier. For example, 20 years of service would equal a 50% multiplier. The years of service creditable are computed differently depending upon whether retirement is from full time active duty or from a reserve career.How do you calculate service percentage retirement?
Divide your grand total career point count by 360 (because your pay is based on 30-day months) and multiply by 2.5% to come up with your service multiplier. For example, 2134 points / 360 * 2.5% = 14.82%. That’s your service percent multiplier, just as an active-duty retirement at 20 years would be 50%.