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 / purchasing an income, or
- – In return for the delay, when they start to take the income they can expect to receive a higher level of income.
Therefore the clients will need to decide whether the increase in the ‘deferred’ income is sufficient to make up for the income not received during the deferment period.
Will there be a point when the cumulative ‘deferred’ income exceeds the cumulative ‘immediate’ income?
The line charts (on the income page) shows the amount of the income each year, and the cumulative income.
The figures are shown on a separate tab.
This calculator allows for income to increase during payment and for the inclusion of any dependants pension.