News & Events

Scottish Widows Launches Retirement Analysis Platform

Scottish Widows has developed a dynamic range of online tools to help IFAs fully explore the post A-Day opportunities available to their clients. The tools, which are accessible by logging onto http://www.scottishwidows.co.uk/rap, have been designed in collaboration with the UK’s leading provider of advice technology, Distribution Technology Ltd (DT).

The Retirement Analysis Platform consists of four different calculators that are designed to help advisers plan their clients’ retirement finances effectively.

• The Retirement Income Shortfall Calculator is designed to identify how realistic and achievable the financial goals set by clients are. This calculator looks at both pension and non pension assets including downsizing the home.
• The Lifetime Allowance calculator will help advisers find out how their clients target retirement income fits in with this allowance. This also takes into account pensions in payment.
• The Salary and Bonus Sacrifice Calculator is designed to show clients the impact of this sacrifice on their disposable income over the short and long term.
• The Tax Free Cash calculator is appropriate for those clients whose tax-free cash was above 25% of their fund at 05/04/2006. This calculator will help determine the benefits, should they make an additional contribution to enhance their tax-free cash.

Scottish Widows has also provided an on-line tutorial service for advisers, to ensure that the tools can be used to their full potential.

Angie Kirkwood, Retirement and Income Planning Manager, commented:

Scottish Widows is committed to offering excellent online support to IFAs. We have developed these calculators as part of this commitment and we hope that advisers will find them both practical and worthwhile.

Ben Goss, CEO of Distribution Technology, added:

We’re delighted to work with Scottish Widows on upgrading its web support for IFAs. The new calculator tools are easy-to-use for intermediaries, and help ensure that the advice process is profitable for advisers, and that customers are receiving relevant advice and treatment.

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08/02/07