Lincoln Financial Group has selected Fiserv's new retirement income technology, Retirement Illustrator, to support its advisors and increase participant experience in retirement plan services business.

Fiserv has worked closely with Lincoln in the planning, development and launch of these new capabilities, designed to improve and better assessment of an investor’s retirement income outlook.

The new tool will enable clients to envisage a number of savings and investment strategies that can better assist them to improve cash-flow at the time of retirement.

Monte Carlo simulations show retirement plans in favorable and unfavorable market conditions, enabling financial professionals to plan best and worst case scenarios, to assess how market volatility can affect their retirement picture through interactive, intuitive and graphical illustrations.

Utilizing the new technology, advisers can present retirement spending requirements and distribution options, covering risks including withdrawal, longevity, survivor needs and healthcare risks to ensure investors’ greatest challenges are met throughout their planning and retirement phases.

Lincoln Financial Group is the marketing name for Lincoln National Corporation (LNC) and its affiliates and had assets under management of $174bn as of 30 September 2012.