BlackRock has launched a retirement income tool to allow consumers to determine how much they need to save to avoid running out of money in retirement.
CoRI is a tool that tracks UK bond indices, showing pre-retirees how much they need to save to generate a specific annual retirement income in the future. Based on BlackRock's CoRI retirement indices, the online tool updates daily and incorporates current interest rates, inflation predictions as well as mortality projections in its calculations. It consists of 20 indices covering the years 2006 up to projections for 2025 and is available to advisers and directly to consumers. The tool is already in use in the US but was introduced to the UK market to help savers post-pension freedo...
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