By default, a Capitalise calculation includes the full state pension (new or old depending on the age of the recipient).
You can of course uncheck this box so the pension is not included.
To add a partial state pension (if the recipient doesn’t have a full contributions history for example) exclude the full state pension and then add the partial pension manually.
To see the difference a state pension makes to a particular calculation perform it first with the pension in, then duplicate the calculation, exclude the pension and recalculate.
To let you see more generally the difference a state pension makes to a calculation we’ve added a new feature.
At the top right of the screen, go to Tools and help, Tools and then Duxbury tables.
Select either Absolute Difference or Percentage Difference.
‘Absolute difference’ brings up this table.
You’ll see the At A Glance Duxbury table format, with ages and income needs.
The difference the inclusion of a state pension makes is shown in the table – for example for a 40 year old female with an income need of £10,000 p.a. the inclusion of a state pension means the capital sum would be £43,700 less than if no pension was received.
If you scroll down the table the colours of the heatmap show you where the difference is most pronounced.
(The ‘percentage difference’ table works in exactly the same way, obviously showing the percentage rather than absolute difference a state pension makes to the calculation.)