UK - Alexander Forbes Financial Services has launched an online pensions calculator to show final salary and money purchase scheme members their full retirement income prospects.
Alexander Forbes claims the site – www.retireontarget.com – is the first publicly available online tool that includes current pension savings, state pension entitlements and the cash value of previous schemes.
Marketing director David Marlow said that unlike other online pension targeting models provided by advisers and product providers, which only calculate the future projection of DC savings, the website calculates the value of existing arrangements and state benefits to give a more accurate assessment of retirement income.
He said: “This is the only freely available online system to give consumers a real and full picture of their full retirement prospects including state pension, historic pension savings and current pension schemes.
“It is effective for anyone using personal pensions and employer-sponsored savings schemes.”
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.