Pension calculator: will your pension be enough?

The full new State Pension is £241.30 a week in 2026/27, or £12,547.60 a year. You need 35 qualifying years of National Insurance for the full amount and at least 10 to get any. It is taxable but paid without tax taken off, so any tax due is collected through your other pension income.

The moderate Retirement Living Standard from Pensions UK (formerly the PLSA) for one person is £32,700 a year after tax. With the full State Pension, retiring at 67 and drawing an income until 95, that takes a pot of about £488,000. Use the planner above for your own age, savings and target income.

Retiring at 67 with £300,000, a balanced investment mix and the full State Pension, you could draw about £24,887 a year after tax (£2,074 a month) in today's money until age 95. Around £12,573 of that comes from the pot and the rest from the State Pension.

Usually 25%, up to the lump sum allowance of £268,275. You can take it all at once or a slice with each withdrawal. The rest is taxed as income at your marginal rate through PAYE.

From 55 for most private and workplace pensions, rising to 57 from 6 April 2028 unless your scheme gives you a protected pension age. The State Pension starts at State Pension age, which is 66 and rising to 67 between 2026 and 2028.

Yes. Pension withdrawals, the State Pension and other income are added together and taxed like a salary, with the £12,570 Personal Allowance first. No National Insurance is charged on pension income. In Scotland, Scottish income tax rates apply.

The balanced profile assumes 5.5% a year growth before 0.5% fees and 2.5% inflation, and every figure is shown in today's money. The planner also runs 1,000 market simulations to show how often your plan lasts. You can change every assumption.