Quick Income Builder
How do your income sources fit together? What impact do they have on the shape of your income in retirement?
Our quick income builder helps you to see the different levels of income that your pension savings could deliver using combinations of cash withdrawals, guaranteed income (annuity) and flexible income (drawdown).
Using the tool
- Add personal details and the total value of pension savings.
- Confirm initial tax-free lump sum and any requirements for an emergency fund.
- Choose how much to allocate against different types of available retirement income, either throughout retirement or for a set number of years (for example to cover mortgage payments).
The tool captures the total value of your pension fund savings and allows you to see:
- How much is going to be taken as a tax-free lump sum.
- Any taxable lump sum.
- How much, if any, you have set aside as an emergency fund.
The results will give you an indication of the level of income that you might receive based on the information that you enter. You will be shown the amount that you might receive if the income was guaranteed for life (based on whether you're in excellent, reasonable, challanging or critical health) as well as options for taking some or all of this income through drawdown as a flexible (non-guaranteed) income.
Please note that summaries can be printed.