Have you tried our Pension Tools?

Pension Tools to plan perfectly

Ever imagined what your retirement could look like? From something big like an idyllic holiday to something more understated, a joyful retirement needs planning.

That’s where our tools come in. One gives you a Snapshot of what your retirement could look like, whereas the other paints you as an Architect, giving you the power to sculpt a pension path in forensic detail.

These are the tools you never knew you needed.

Both Snapshot and Architect require a few details. These answers are anonymous and are automatically deleted once you’re done, so these tools are made for you, for your eyes only.

Once you’ve input details such as age, desired retirement age, income and the current grand total of your pension, Snapshot and Architect then go their own separate ways.

Snapshot so simple

Snapshot does what it says on the tin; provides a glimpse of what your retirement could look like in a simple way.

Getting a snapshot of retirement might be useful for people who have just started their retirement journey, or those who just want an idea of the direction they’re headed in.

In Snapshot, you’ll get to choose how you’ll take your hard-earned savings: as an annuity, flexible income or through drawdown. These are explained in the tool, so you’ll know exactly what you’re in for – but can be changed after if you’d rather mix it up.

Snapshot gives you an estimated forecast based on your answers and provides a simple overview of the state of play as you begin your retirement journey.

With sliders to experiment with and logical, clear graphs to display your forecast, Snapshot is for people who just need a quick hint about their future without getting bogged down by detail.

The answer is Architect

Architect is where things get interesting, because it does everything Snapshot does and so much more. In fact, it’s for the true Pension Geeks. After you’ve provided the details (in an identical manner to Snapshot), you’re ready to get your Geek on. Engage with scrupulous, forensic forecasts as you watch Architect break down your retirement income by age. You’ll see the amount of money you’d have to live on each year. You’ll even get to look forward to an amount based on your pension’s current value or a future value, as well as alter values and income strategies to adapt to changing circumstances.

You’ll then have the chance to make more changes and play with the outcome, seeing how future changes to contribution levels or salary could impact your forecast. This is best explored in your own time, by finding the values most meaningful to you. In doing so, you may discover what matters most for your retirement, or what you don’t feel is as important based on your own situation.

Once you’ve planned a path to retirement, and checked the next steps you could take, you’ll be able to generate a report to download and hold on to, so you can refer to it as you begin to enact financial decisions.

Check out our video for more information and get stuck into the tools and begin to plan a path to retirement!