Calculating pensions is made easy says Norwich Union

For customers who want to get their finances in order, Norwich Union has launched a “pension calculator”.

It will help make retirement planning easier to understand and highlight the benefits of saving into a pension.

Available on the new Norwich Union Make Sense Of It website makesenseofit.com the new calculator reflects the company’s commitment to helping customers take charge of their finances.

Iain Oliver, head of pensions, Norwich Union, said: “We recruited end customers to test the calculator and help shape it into something that’s as good for somebody new to retirement saving as it is for somebody looking to top up their existing pension.

“We wanted to make sure it was designed by customers for customers. They helped make it what it is: simple to use and easy to understand. By entering personal details, including personal income and expenditure onto the secure site, the calculator will do the hard work and project retirement income in today’s money.

“It highlights any shortfalls and customers get an illustration of their potential income in retirement. It also allows customers to save and/or print a personal report which highlight steps they can take. By using the interactive tool, customers can see how small changes make a big difference to their pension in the future.”

The Norwich Union Life Pensions Calculator is available on norwichunion.com and makesenseofit.com.