Aviva pensions online retirement income calculator 'offers fuller understanding'

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Aviva pensions online retirement income calculator 'offers fuller understanding'

Aviva pensions has lauded the potential of its new online retirement income calculator for helping people to understand their investments.

The firm describe it as "easy-to-use" and pointed out that consumers can switch between annuity options and see for themselves how it affects the amount of money they will receive when they retire.

Darren Dicks, head of retirement at Aviva pensions, urged customers to play an active role in getting good value from their pension pots and suggested that this financial tool could save them time in working out the figures involved.

He stated: "The development of the retirement income calculator is our next step in helping people have a better understanding of their retirement and the potential income they could receive."

The company revealed it has also redesigned the web pages used in order to clarify the information on display.

Last month, Aviva claimed equity release could be set to become an important retirement income generator.

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