Friday, 19 October 2012 09:24
Zurich pension tool helps consumers calculate future income
Zurich has launched a new Pension Planning tool to allow people to calculate how much they are likely to receive as retirement income.
The online tool enables consumers to input information such as expected retirement age and current salary and work out how much they could receive as income from their personal pension.
Zurich, a sponsor of the Institute of Financial Planning, said it expects the calculator will lead to "stark realisations" for some consumers.
The launch of the tool follows the earlier launch of the Zurich smartphone app for iPhones and Android. This allows people to track their spending habits and manage budgets appropriately.
The online tool enables consumers to input information such as expected retirement age and current salary and work out how much they could receive as income from their personal pension.
Zurich, a sponsor of the Institute of Financial Planning, said it expects the calculator will lead to "stark realisations" for some consumers.
Simon Foster, head of Zurich corporate savings, said: "With the ever increasing pensions gap, it is important that people take responsibility for their financial futures. For some people, using this tool will inevitably lead to the stark realisation that they need to take action and save more into their pension.
"We hope that by using Zurich's new pension calculator it will encourage people to start saving money, either individually or through their employer, to allow them to live comfortably in retirement."The launch of the tool follows the earlier launch of the Zurich smartphone app for iPhones and Android. This allows people to track their spending habits and manage budgets appropriately.
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