Pension Calculator – taking the guesswork out of Pension Planning
The Principle First Pension Calculator allows you to enter a target level of income on retirement, by nominating a salary in today’s terms. It will then calculate what size of pension pot you need to achieve that buying power, and how much must be saved monthly, as of today, to achieve that. The pension income calculator really does take the guesswork out of planning for the lifestyle you want!
An example would be a male, aged 30, wishing to retire aged 60 on the equivalent of £15,000 today. The Pension Calculator reveals that he may need a pension pot of £250,000 to achieve that.
The Pension Calculator then reveals the key statistic: to achieve his target he would need to save £205 a month, starting today.
Check how much you should be saving now, using the Pension Calculator
This is the beauty of the Pension Calculator. It adds certainty to your retirement planning, by giving a scientific anchor point on which to build your savings. By knowing exactly how much you need to save, you can be on the right track, right from the start.
Even if you have an existing pension plan in place, you can use the pension income calculator to work out how much you will have to live on in retirement, factoring in the savings you have already built up.
Pension Calculator also pinpoints your Risk Profile
Once you know how much you should be saving, the next step is to identify how you should be saving.
The Pension Calculator also contains a Risk Profiler that will match your investment preferences to one of 5 investor types. The Risk Profiler asks five simple questions on how comfortable you would feel about fluctuations in the value of your pension investments.
The Risk Profiler will then match you to the correct Principle First Investment Portfolio, each with a tailored funds selection to match your investor type: Very Defensive, Defensive, Cautious, Balanced, Aggressive, or Very Aggressive.
Check your pension saving is on course now, using the Pension Calculator
A recent survey by Prudential showed that 59% of adults now nearing retirement were realising they had not saved enough for their retirement planning, and feared that they might outlive their savings.
Pension Calculator puts the facts and figures at your fingertips, and ensures that this will not happen to you!
