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Pensions Auditor |
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This is a complex calculator because it is a complex subject.
This calculator will help highlight how close to your target you are with regard to establishing a decent pension.
It will only provide a very general picture and we strongly recommend that we conduct a proper audit of your position in which we will assess all of your current arangements and make suitable recommendations. That said, if you enter all the information correctly and it suggests that you need to save £300pm, and you are only saving £50 then it is fair to say that some additional planning will be needed. Please read the explanatory notes by clicking on the information button below: |
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1.Enter the rate of accrual as 60 if you are in a 1/60th scheme, 80 if 1/80th etc. Enter 1 if this section is not applicable: |
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2. Enter the total number of years service you expect to have by the time you want to retire. Enter 0 if not applicable: |
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3. What is your salary as defined by the pension scheme? Normally only includes basic pay, no bonuses or overtime. Enter 0 if not applicable: |
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4. Enter the current value, in total, of your pension funds, plus any other plans that you are treating as pension savings, e.g. 12000. Enter 0 if none: |
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5. Enter your current monthly investment, to all of the above.
Use GROSS contribution values for pension investments, e.g. 150. Include any Employer contributions: |
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6. Enter the number of complete years to retirement: |
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7. Enter your assumed growth rate, e.g. 9 for 9%: |
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8. Enter your assumed inflation rate, e.g. 5 for 5%: |
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9. Enter your desired annual retirement income
( in today's terms): |
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10. Enter your expected annuity rate. Click here to see notes. |
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11. Projected Pension* Fund: |
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12. Projected Pension* using your annuity rate: |
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13. Projected Fund in real terms
(allowing for inflation): |
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14. Projected Pension in real terms using your inflation and annuity assumptions for fund based pensions, with any Defined Benefit pension added: |
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*This calculator assumes that you use the whole fund for pension. In reality you may take some of it as tax free cash.
The above calculator is designed for guidance only and advice relating to any of these areas should be sought from your Financial Adviser.
Levels and bases of, and reliefs from, taxation are subject to change. Tax reliefs referred to are those currently applying and their value depends upon the individual circumstances of the investor.
Last updated on
November 14, 2007
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