Aspen Annuity Service has launched a new service for its clients which encourages both personal pens...
Aspen Annuity Service has launched a new service for its clients which encourages both personal pension clients and corporate trustees to find out for themselves what the best annuity deal might be.
Two online annuity calculators have been developed and added to Aspen's website - www.aspen-plc.co.uk - allowing the trustees of pension schemes or their members to calculate how much annuity income a given pension fund will provide.
Trials for the tools were launched by Aspen its annuity division William Burrows Annuities, but the tools were initially developed under the name Askannuity.com.
Most comprehensive of the two calculators in the Corporate Annuity Calculator which allow for split purchase prices, used when DC schemes was to buy set increases or increases as the member chooses.
The simpler personal pension calculator takes basic details about the age, gender of the person, sum acquired to purchase an annuity, increases or indexation and guarantees.
Both calculators then present users with a list of product providers, displaying rates from the best to the worst on offer.
Database behind the calculator is updated every time an annuity provider changes its annuity rate.
To take a look at the annuity calculators, click through the right hand link, and go to Launch of Aspen Annuities where you will find the Aspen Annuity Service and calculator.
Feasibility study due
'Let’s be bold enough to demand change'
Joint life second death option added to relieve tax burden on couples gifting assets
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record