Post Retirement

PCLS – Defined Benefit

The objective of the PCLS Defined Benefit calculator is to provide the client with an indication of their maximum expected Pension Commencement Lump Sum (PCLS) entitlement at retirement from their Defined Benefit scheme. The level of Defined Benefit pension that the client will receive when they retire is based on their length of service and […]

Protected PCLS

Post April 2006, clients may be entitled to Pension Commencement Lump Sum (PCLS) of 25% of their fund value – subject to a maximum fund of their Standard Lifetime allowance. Protected PCLS However at A Day (6th April 2006), for certain clients they may have had a PCLS entitlement of more than 25% of their […]

Apportion PCLS

The Apportion PCLS calculator provides an indication of the amount of Pension Commencement Lump Sum (PCLS) that each scheme has to pay. If a client has multiple ‘occupational’ pension schemes for the same employment, at retirement the Pension Commencement Lump Sum (PCLS) has to be apportioned between each of those schemes so that each Scheme pays its appropriate […]

UFPLS Options

The UFPLS Options calculator will provide an indication of the amount of income tax paid by the client if the entire money purchase pension fund is withdrawn as a Uncrystallised Fund Pension Lump Sum (UFPLS). Emergency Tax code (Month 1) basis The UFPLS Options calculator will also show the amount of tax to be paid under the emergency tax […]

Immediate Vesting

The Immediate Vesting calculator demonstrates the net cost of the pension contribution after deducting marginal rate of tax relief and the 25% Pension Commencement Lump Sum (PCLS). Due to the effective rates of return, when a client reaches retirement and requires additional income, they could consider an ‘immediate vesting’ pension plan.     Output Depending upon the level […]

Annuity Comparison

The Annuity Comparison calculator will compare the different levels of annuity income payable each year depending in whether income chosen is: – level, or – 3% increasing, or – if single or joint life. It is possible to have a spouses/ dependants pension of 50%, 66.67% or 100% of member’s pension. The member’s income could also be guaranteed […]

Income Deferral

The Income Deferral calculator provides a basic comparison of the level of income at outset and the increased ‘deferred’ income, and whether the increased amount is sufficient to make up for the income not received during the deferred period. This calculator should be able to assist those clients who have the option of either; – deferring taking / […]

Maximum Drawdown Income

The Maximum Drawdown Income calculator provides an indication of the client’s maximum ‘capped’ drawdown income at date of retirement. It can also provide a comparison of income from the previous review and show any change. The calculator is only relevant for those individuals whose ‘capped’ drawdown plans started before 6 April 2015 and have not withdrawn income that […]

PCLS or Pension?

At retirement a client will normally have the option of taking either PCLS or Pension. To assist in making this choice, the PCLS or Pension calculator will aim to provide an indication of the age at when the Pension Commencement Lump Sum (PCLS) will be exhausted having been used to fund the reduction in pension. […]

Flexible Pension Withdrawals

The Flexible Pension Withdrawals calculator provides an indication as to how long the fund and income will last depending upon; – the level of income required, and – whether the fund is used to provide Uncrystallised Fund Pension Lump Sums (UFPLS) and/or Flexi-Access Drawdown (FAD). Background The Pension Wise website outlines 6 steps that can help a […]

Retirement Options

The Retirement Options calculator provides a comparison of; – an Annuity, and – Flexi Access Drawdown (FAD). If tax free lump sum has not been taken at outset, then a comparison could also be made with; – ‘Phased’ Uncrystallised Fund Pension Lump Sum (UFPLS). If tax free lump sum has been taken at outset, then a […]

Partial UFPLS

The Partial UFPLS calculator provides an indication as to how long a pension fund is sustained based upon; – An expected net growth rate, and – Regular Uncrystallised Fund Pension Lump Sums (UFPLS) amounts are taken. These will generate the required taxable gross income, and the 25% Tax Free Lump Sum payment payable in addition.     Phase […]

Recycle Drawdown Income

The Recycle Drawdown Income calculator provides an indication for clients who are not taking the maximum income from their drawdown plan, the advantage of ‘recycling’ unused drawdown income amounts back into pension to generate further Pension Commencement Lump Sum (PCLS)  to be paid when the pension plan is crystallised later – which is better than receiving taxable […]

2nd Benefit Crystallisation Event

The 2nd Benefit Crystallisation Event (BCE) provides an indication for a client who crystallises benefits into Drawdown, how much of the Standard Lifetime Allowance will be available/used when the growth of these benefits are measured at the 2nd Benefit Crystallisation Event. Background When a client crystallises his benefits into Drawdown, this is a Benefit Crystallisation Event (BCE) […]

Income Sustainability

The Income Sustainability calculator will show clients expected age at date of death using the Office of National Statistics (ONS) latest statistics table for the United Kingdom (2016-2018). By inputting the client’s age, sex, investment fund, expected net growth rate, and regular annual withdrawal amount, the calculator will show the age at which the fund is expected […]