Standard Life has added a retirement calculator to its website to help people plan how much they need to save.
The tool is available online and provides a detailed report on whether someone is saving enough, and if necessary how much more they need to save.
Standard Life says while the retirement planner uses pre-set assumptions such as the target income and preferred retirement age, these can be altered to allow the individual to receive a more personalised income forecast.
And once the forecast is complete, if the consumer wants to take action straight away they can either print the information or send an email straight form the planner to their financial adviser or employer.
Standard Life says the new tool is part of a wider re-design of the online services available to its customers, and in addition to having a new look, the company plans to make it easier for customers to update their details and get online fund valuations.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7968 4558 or email [email protected]IFAonline
Taking the time to look
After 14-month FAS programme
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
Rebranded from OMW
Number of benefits