Aviva has launched an online retirement calculator based on a graphic interface and designed to help customers understand the annuity options available to them, and to calculate the income they may get from their pension fund.
The calculator is supported by a full suite of web pages, aimed at making it easier for customers to understand their coming retirement.
The calculator gives users access to information about their retirement and a better understanding of the annuity options and retirement income available to them, Aviva said.
According to Aviva, the calculator features include, showing income in retirement; enhanced annuity automatically calculated for eligible customers; ability to switch between annuity options and see the effect on income; redesigned web pages to help customers understand their five month and eight week retirement packs.
Darren Dicks, head of retirement at Aviva, said: “It is vital for customers to take an active role in their retirement to ensure they get the best value from their pension funds.
“The development of the retirement income calculator is our next step in helping people have a better understanding of their retirement and the potential income they could receive. For advisers, it’s a resource they can suggest to customers to learn about their retirement, reducing the amount of time they may need to invest in an average GBP30,000 pension fund.”