For a secure retirement, utilise new tools to help with critical retirement planning. Learn how to generate retirement income from your savings and understand your pension choices.

There are online tools that offer help with planning a retirement income. Many companies have an index that will help personalise your estimates. Find a financial advisory company that suits you, that has your personal needs at its core. Work with them to fully understand the ways of generating retirement income.

A financial advisor can help, find one at www.unbiased.co.uk. Free guidance can be obtained from the Government’s Pension Wise website www.pensionwise.gov.uk.

Estimating income generated from savings is stressful. The index tool can clarify income generated, an important asset for people who will be without a standard pension. The new planning tool can calculate what potential income people aged 55 to 65 can expect and are contemplating retirement.

The tool will indicate the approximate retirement income receivable, if an investment was made at current age of 55 until retirement at age 65. At 65 the inflation-adjusted investment would generate retirement income. It is a planning tool to help determine if savings will generate the retirement income needed.

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