A Level vs Indexed forecast allows a user to compare annuities when funding their retirement. A Level annuity will remain the same each year, whereas an Indexed annuity initially begins at a lower rate, but steadily increases along with inflation rates.
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available, then you will be taken to the forecast selection page. To create a new forecast from this page, simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
A Level annuity is a steady, "standard" annuity that remains the same each year, regardless of inflation rates.
An Indexed annuity initially begins at a lower rate (compared to a Level annuity), however, it gradually increases to keep up with inflation rates and the like.
You can easily switch between forecasts by selecting the 'View all forecasts' option from the Options dropdown menu.
Alternatively, you can produce a report by clicking one of the the 'Create Report' buttons and selecting the forecasts you would like to compare.
In this video, our director, Ray Adams, walks through a Level vs Indexed Annuity Example:
An Early Retirement forecast allows a user to compare annuities when funding their retirement. An Immediate income allows the person to pay a lump sum and begin receiving an annual income by a set date sometime in the near future. A Deferred income gives the opportunity to build up a retirement fund over a set amount of years until the pension holder can begin receiving it annually.
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available then you will be taken to the forecast selection page. To create a new forecast from this page, simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
An Immediate income allows the person to pay an initial lump sum premium and begin receiving an annual income by a set date sometime in the near future.
A Deferred income gives the opportunity to build up a retirement fund over a set amount of years until the pension holder can begin receiving it annually. This also allows the pension holder to gain interest during accumulation.
You can easily switch between forecasts by selecting the 'View all forecasts' option from the Options dropdown menu.
Alternatively, you can produce a report by clicking one of the the 'Create Report' buttons and selecting the forecasts you would like to compare.
In this video, our director, Ray Adams, walks through a Early Retirement scenario:
A pension drawdown allows a pension holder to withdraw their pension while keeping their pension pot invested. This calculator can allow users to manage their pension drawdown by illustrating tax-efficient withdrawals as opposed to withdrawing their pension pot as a lump sum.
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available, then you will be taken to the forecast selection page. To create a new forecast from this page, simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
"Are funds crystallised?" refers to whether or not PCLS has already been taken from the clients current pension pot. If PCLS has not yet been taken from the pension pot, then the funds are not crystallised.
Assumed Net Investment Return is the rate at which any investments made by the client are expected to increase by, per year, net of any charges or fees.
The current Pension Drawdown planner calculates a clients income and illustrates how much the client can draw down tax-efficiently vs a lump sum withdrawal.
CashCalc has developed a separate calculator that allows users to draw down their pension based on a set annual income called the Pension Drawdown Calculator (Variable Income).
In this video, our director, Ray Adams, walks through a Pension Drawdown Example:
A pension drawdown allows a pension holder to withdraw their pension while keeping their pension pot invested. This calculator can allow users to make their pension drawdown more flexible by illustrating variable withdrawals.
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available, then you will be taken to the forecast selection page. To create a new forecast from this page, simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
You can select Adjust for Inflation, if you are adding an income or expenditure which will be starting in the future, and you wish for it to start at it's actual value instead of what the value will be worth in the future due to inflation.
The current Pension Drawdown (Variable Income) planner allows users to draw down their pension based on a flexible annual income.
CashCalc has developed a separate planner that calculates a clients income and illustrates how much the client can draw down tax-efficiently against a lump sum withdrawal. This calculator is called the Pension Drawdown Tax Payable Calculator.
The purpose of the Emergency Tax / Month 1 calculator is the work out the amount of tax paid when a pension is withdrawn as a lump sum; firstly when the amount has just been withdrawn and is liable to large amount of taxation and secondly when the appropriate paperwork has been filed and the extra tax paid has been refunded.
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available, then you will be taken to the forecast selection page. To create a new forecast from this page, simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
"Is all of the withdrawal crystallised?" refers to whether or not PCLS has already been taken from the clients current pension pot. If PCLS has not yet been taken from the pension pot, then the funds are not crystallised.
In this video, our director, Ray Adams, walks through a Emergency Tax/ Month 1 Example:
The Pension Forecast Calculator is used to show the client what monthly savings they would need to make, their target fund size and monthly income in retirement (gross) depending on the chosen option. If the client were to choose that they wanted to save a certain figure per month, then the target fund size and monthly income in retirement will be calculated accordingly. If the client were to choose that they wish to have a certain fund size by the time they retire, then the monthly savings and monthly income at retirement would be calculated to reflect this. If the client chooses to receive a certain income at retirement, then the monthly savings required and the target fund size would be calculated to achieve this income.
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available, then you will be taken to the forecast selection page. To create a new forecast from this page, simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
Below, CashCalc Director and in-house Chartered Financial Planner, Ray Adams, discusses the Pension Forecast Calculator:
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
In this video, our director, Ray Adams, walks through a Pension Forecast Example:
Carry forward allows you to make use of any annual allowance that you may not have used during the three previous tax years, provided that you were a member of a registered pension scheme. This calculator works out how much of the allowances over the years have been used and how much are left to be utilised; it also displays if the pension has been over-funded or subject to annual allowance tapering.
This is a tapered reduction in the amount of annual allowance of pension tax relief for individuals with an adjusted income of over £150,000 and a threshold income over £110,000.
The reduction in the annual allowance is not a flat rate but will reduce by £1 for every £2 over £150,000 with a maximum reduction of £30,000.
Adjusted Income is worked out as follows:
Threshold income is worked out as follows:
If you are creating a forecast for the first time, you will be taken directly into the calculator and the forecast name will be automatically generated to today's date; however, this can be changed via a shortcut menu that will appear at the top of the screen.
If there is already a forecast available, then you will be taken to the forecast selection page. To create a new forecast from this page simply click the 'Add new forecast' button; then simply enter a forecast name, select which planner you would like to appear on the forecast and click the 'Add' button.
If you are currently on the forecast selection screen then the forecasts can be edited or deleted by clicking the corresponding buttons in the end column of the selection table.
If you are inside the calculator itself its just as easy to change/delete a forecast; hover over the 'Options' button in the top right of your screen and select either 'Edit forecast name' or 'Delete forecast' from the drop down menu.
In this video, our director, Ray Adams, walks through a Pension Carry Forward scenario:
Our Pension Calculators module includes the necessary tools to provide good quality pension advice for your clients.
Our Pension Calculators includes:
For more information on our new pricing structure, click here.
If you’re a new user and would like to trial our Pension Tools, then you must register for a free CashCalc account, here. You will automatically be enrolled onto a trial of our core ‘Cashflow & Onboarding’ module.
You can take a trial of the Pension Calculators by logging into your account and finding the ‘Pension Tools’ module under ‘Plans’ in the ‘My Account’ section. Here, you can trial our range of plans as well as add them to your account subscription.
If you’re already a CashCalc user, then you can add a trial of the Pension Tools module in the ‘Plans’ section under ‘My Account’.
Your 28 Day Free Trial will allow you unrestricted access to the Pension Tools plan for the entire trial period. This includes our Quick Start Guides, downloadable Reports and the Premium Support service.
Throughout the trial period, you will have the opportunity to upgrade your account and continue using the tool with no restrictions, beyond the 28 days. The Pension Tools module costs an additional £30 per-month + VAT, with no contracts or tie-ins.
If you’re currently undergoing a trial or are new to CashCalc, you can add the Pension Tools module to your subscription in the ‘Plans’ section under ‘My Account’.
If you are already a CashCalc Premium subscriber, when you add a module to your account you will receive an invoice the next billing date.
We try to ensure CashCalc is as user-friendly and straightforward as possible, but we have a range of training options on offer.
You can:
Find out more info and book a demo in your CashCalc dashboard.
You can access all of our sample reports in the 'Resources' section, which includes downloadable reports for all of our Pension tools.
CashCalc is a modular system, meaning you can add different tools to create your own personalised suite. Our Pension Tools is therefore an optional addition and can be purchased for £30 per-month + VAT per-adviser.
To access our Pension Calculators also requires you to be a user of the core ‘Cashflow & Onboarding’ module, which is the base functionality of CashCalc.
You can add the Pension Calculators module to your account or take a trial, in the ‘Plans’ section under ‘My Account’.
For more information on our Pricing plans, click here.