12/08/2011

Pension calculator updates.

GAD drawdown calculations.

GAD drawdown pension tables.

The government actuary’s department produces tables to calculate the “basis amount” (the maximum level of pension that can be taken in capped income drawdown from a money purchase arrangement without purchasing a lifetime annuity or a scheme pension).

This profile is a quick guide on how to calculate the maximum level of capped income drawdown that can be taken in each year using an extract from these tables and the 15 year UK gilt yield released on the 15th day of the previous month (and published in the Financial Times newspaper the following day). If the 15th day is not a working day then the previous working day is used.

Annual allowance calculator.

Following the Finance Bill 2011, the Government have made some key changes to limits on pension contributions. We have developed a new, easy to use calculator. By entering the appropriate Pension Input amount for each of the tax years and the expected earned income from employment for the current tax year our calculator will show the following:
1. How much is available to carry forward.
2. The maximum permissible contribution for this tax year.
3. The impact on the personal allowance of paying the maximum permissible contribution for this tax year.

Start using the Annual Allowance Calculator.

Salary sacrifice calculator.

Salary sacrifice has always provided the ideal opportunity to make pension contributions whilst saving on National Insurance and possibly tax as well. We have developed an easy to use salary sacrifice calculator which helps to illustrate the financial benefits. The calculator not only performs a simple salary sacrifice operation but will also work out how much an employee can sacrifice without compromising their take-home pay (SMART). The calculator can work out figures based on a percentage of salary or on an actual fixed amount.

Start using our Pension salary sacrifice calculator.

From the
Platforms and Distribution Marketing Team.