Aviva unveils pensions calculator 'to boost understanding'

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Aviva unveils pensions calculator 'to boost understanding'

The Aviva salary exchange calculator has been launched by the firm to help consumers understand their long-term savings positions, a representative from the company has explained.

Paul Goodwin, head of pensions at the financial services provider, described how the tool will be used by advisers to make the impact of such pensions contributions clearer to clients.

"Salary exchange is a tax-efficient way of maximising contributions into pension plans," said Mr Goodwin.

He suggested utilising this type of long-term saving strategy could help people put aside a greater proportion of money from their wages and potentially retire earlier.

The salary exchange calculator will be used by advisers to demonstrate the benefits of such payments using 'before' and 'after' scenarios and fields to show the savings being achieved for employees.

Last month, Aviva announced the unveiling of its online Underwriting Centre, which offers employees a chance to improve their knowledge of the various products in the company's portfolio.

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