Oakspan

FAQ

Does the calculator include the State Pension?

Yes. Entitlement is a percentage of the full new State Pension (£241.30 a week in 2026/27), and State Pension age defaults to 67.

All pension questions

Yes. The full new State Pension in 2026/27 is £241.30 a week, about £12,547.60 a year. Oakspan starts from that figure and scales it by the entitlement percentage you enter. 100% is a full new State Pension. Someone with gaps in their National Insurance record might use 80% or whatever their forecast shows. The field allows up to 150% so a couple’s combined entitlement, or a protected higher amount, can be typed in as one number.

State Pension age defaults to 67 and can be edited between 55 and 75. Nothing is paid before that age. From that age onward the amount rises with the inflation rate you set, in line with the rest of the projection. It is not a forecast of the triple lock.

Whether your target already includes it

The switch Desired income includes the State Pension changes what the private pot has to pay.

  • Switched on: the income is the whole household target. Once the State Pension starts, Oakspan withdraws only the gap. Before State Pension age the pot funds the full inflated target.
  • Switched off: the income is what you want from the private pot on top of the State Pension. The State Pension is still added into the tax estimate and the net-income figure, but it does not reduce the withdrawal.

Tax, and what is left out

The full new State Pension (£12,547.60) sits just under the £12,570 personal allowance. Private drawdown on top of a full State Pension is therefore usually taxable from the first pound, which is why the first-year net income on the results is not the same as the gross withdrawal plus the State Pension.

Oakspan does not look up your National Insurance record, model deferral, the old basic State Pension, contracted-out deductions or Pension Credit. Check a forecast on GOV.UK and type the percentage that matches it. The wider picture of how the State Pension sits next to a defined-contribution pot is in the pension guide.

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