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.

This of course depends on;

  • Rate of income tax paid by the client
  • Increases in pension payments, and
  • net growth rate of the PCLS

Calculator will also show clients’ life expectancy age based upon the National Life Tables issued by Office for National Statistics (ONS) for the United Kingdom