Thursday 11th January 2007
Financial services provider Norwich Union has released a pension calculator to make retirement slightly easier.
Norwich Union claims that those nearing retirement may benefit from the calculator, which attempts to work out the best way to manage finances in the twilight years.
The calculator is available for use on the Norwich Union website, as well as on the new Make Sense of It site which offers advice on retirement, pensions and investments.
Iain Oliver, head of pensions at Norwich Union, said: "It highlights any shortfalls and customers get an illustration of their potential income in retirement."
"By using the interactive tool, customers can see how small changes make a big difference to their pension in the future," he added.
Mr Oliver stated that by consulting with customers, the calculator has been refined to be relevant for both young people planning ahead and those on the brink of retirement.
Norwich Union offers investment advice for retirement, as well as providing equity release schemes and guidance on issues such as inheritance tax.
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