UK firm Selectapension is launching an online service it claims will enable advisers to determine the amount of money needed by their clients for a secure retirement.
The company says it has created a web-based retirement planning tool, which is IFA focussed, regardless of the type of pensions business they transact, and includes four separate calculation tools.
The ‘basic calculator’ provides a graphical projection of clients’ potential retirement fund as well as shortfalls.
A ‘transfer value analysis calculator’ (TVAC) calculates projected fund values or critical yields, allowing IFAs to gage whether a transfer is possible.
The ‘lifetime limit calculator’ indicates the difference between a client’s expected pension provision when retired and the lifetime limit, while the ‘provider comparison calculator’ provides a league table, showing products by the highest pension fund maturity values.
According to Selectapension, the new service has been designed in conjunction with the FSA, DWP, and many IFAs and will be launched next month at an annual fee of £250.
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