RETIREMENT INCOME CALCULATOR

Calculate your retirement income and find out how much you need to enjoy a sustainable retirement.

Our retirement income calculator can show you how much income you can expect in retirement, based on your existing pensions, desired income, and any lump sums you need.

Download a clear and easy-to-understand report explaining how sustainable your retirement could be.

RETIREMENT INCOME CALCULATOR

Calculate your retirement income and find out how much you need to enjoy a sustainable retirement.

Our retirement income calculator can show you how much income you can expect in retirement, based on your existing pensions, desired income, and any lump sums you need.

Download a clear and easy-to-understand report explaining how sustainable your retirement could be.

Securing a good retirement lifecycle for clients

Making sure you have enough money through retirement is vital for supporting you and your family – however, knowing where to start can be challenging. Here at Hanson, we will help you understand the basics of retirement savings, planning and pension schemes so you can achieve a comfortable retirement.

Many factors, such as family circumstances, pension rules, and tax regulations, must be considered when planning for retirement. The good news is that whatever your financial situation and however you want to enjoy your retirement, at Hanson Independent Financial Services, we can help you set up bespoke arrangements that are right for your needs.

SOME OF THE COMMON QUESTIONS WE GET ASKED ARE:

  • Will I be able to retire when I want to?

  • Will I run out of money?

  • How can I guarantee the kind of retirement I want?

  • Can I retire on X amount?

  • What are my options with my current savings?

  • Can I afford to stop working?

  • How much cash lump sum can I take from my pension?

Retirement Income Modeller

Making sure you have enough money through retirement is vital for supporting you and your family – however, knowing where to start can be challenging. Here at Hanson, we will help you understand the basics of retirement savings, planning and pension schemes so you can achieve a comfortable retirement.

Many factors, such as family circumstances, pension rules, and tax regulations, must be considered when planning for retirement. The good news is that whatever your financial situation and however you want to enjoy your retirement, at Hanson Independent Financial Services, we can help you set up bespoke arrangements that are right for your needs.

What is a Cash Equivalent Transfer Value?

A Cash Equivalent Transfer Equivalent Value (CETV) determines the cash value of your current final salary pension scheme if you transfer out. It is not a value of your pension amount. It is not the equivalent of your pension fund. It’s essential to understand the difference.

Your defined benefit pension is an entitlement to income at your Normal Retirement Date. It is not a pot of money impacted by investment performance. A CETV is simply what the scheme offers you to give up that entitlement to income.

How do I get my cash equivalent transfer value?

To get your CETV, you must contact your pension provider. To understand your potential transfer value, use our simple CETV calculator below. The value we provide is not an exact figure but a guide to what you could get.

What should I do after using the calculator?

If you would like to discuss your cash equivalent transfer value or have questions about transferring to a defined contribution scheme or SIPP. Please book a free consultation with one of our advisers.

Calculator Disclaimer:

Moving from your safeguarded pension to a more flexible private pension is only for some. You must seek professional financial advice to complete a defined benefit pension transfer. This CETV calculator and the additional information we provide do not constitute financial or other professional advice. Please consult an independent financial adviser to understand your options.

CLIENT TESTIMONIALS

I found Sanjay particularly helpful and extremely patient: my options were spelled out in plain, jargon free English. Sanjay was not the first pensions advisor I had spoken to but he was the most straight forward and down to earth.

Here at Hanson

We take a comprehensive & personal approach to your retirement planning. We will evaluate your pension and other financial assets to determine how they can best support you in retirement. Also, we’ll make sure you take the necessary steps in the correct order since some decisions can have a lot of trouble with other areas of your financial planning.

Frequently Asked Questions

I found Sanjay particularly helpful and extremely patient: my options were spelled out in plain, jargon free English. Sanjay was not the first pensions advisor I had spoken to but he was the most straight forward and down to earth.

We’ll work with you long-term to ensure that:

Your financial arrangements will provide the retirement you want

You are as tax efficient as possible and benefit from tax relief

You can change the details if you need to

You can carry on working and saving for as long as you like

Your plans help to manage inheritance tax and preserve your wealth for future generations.

Here at Hanson, we take a comprehensive & personal approach to your retirement planning. We will evaluate your pension and other financial assets to determine how they can best support you in retirement.

The first thing your financial planner will do with you is to look through all your pensions to check whether they fit for purpose, which includes finding out the following:

  • How many pensions you have
  • What the pensions are worth 
  • Which type of plan they are
  • The charges and underlying investments for each plan 
  • Whether they offer flexible benefits 
  • Whether they have any valuable guarantees or enhanced benefits.
     

If your pensions are not professionally managed, it’s a good idea to learn how the funds are invested, whether this suits your financial objectives, how they’re performing, and what the costs are. 

A professional adviser will review all your pension pots to give you a clearer picture and recommend ways to manage them going forward.

It’s important to get the full picture of how much you have and how much you’ll need, so you can understand what your options are.

Have you considered all of your retirement income options? In addition to your pension savings or state pension entitlement, your retirement income can come from other sources like Individual Savings Accounts (ISAs) or rental income from property you own.

  • A dedicated financial adviser
    We provide continuous support, advice and updates to ensure your life savings are performing at their peak.
  • Expert advice on all your life savings
    Review and recommendations for your pensions, ISAs, and other savings and investments.
  • Retirement income and tax planning
    Your comprehensive financial roadmap. Designed to complement your lifestyle and utilise your money efficiently.
  • Gain financial confidence
    Financial confidence for retirement means knowing you can afford to retire, what you can afford to spend and ensuring your money lasts.

Enjoy hassle-free retirement
You don’t have to worry about a thing–we’ve got you covered, from product selection to payments to your pension. You can trust that we have your best interests at heart.

Request your free retirement review today

If you’re coming up to retirement age, we can help. We’re retirement planning experts. We can help you retire feeling confident and prepared by giving you access to free planning support and specialist financial advice. The sooner you start your retirement planning, the more likely you will achieve your desired retirement lifestyle.

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