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Include State Benefits in Analysis |
If checked, the software will automatically include in the presentation State Benefits for retirement, survivor needs (for surviving spouse and children), and disability. The levels of benefits included are dependent upon the option selected for the ‘How should benefits be calculated?’ drop down. |
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Estimate benefits |
When selecting the ‘Estimate benefits’ option the software will only include the Basic State Pension in the analysis. The benefits included will be based on the current level of the basic state pension increased by the “State Benefits Annual Increase Rate” percentage recorded in the “Assumptions” screen. If the ‘Estimate benefits’ option is chosen, no State Benefits will be included for survivor needs and disability. |
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Enter Amounts |
Click the Benefits button to enter the State Benefits values to be incorporated into the analysis. The software uses the amounts entered to determine benefit levels, and then adjusts them based on start dates for retirement and family situations for retirement, disability and survivor benefits. Future benefits are inflated at the “State Benefits Annual Increase Rate” on the “Assumptions” screen. Visit http://www.direct.gov.uk for more information. |
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Dependants |
Enter dependants and education information if applicable. Information modified on this screen will also be modified on the Education Goal screen. |
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Annual Cost |
Enter the annual amount for the university or higher education cost in today’s money. |
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Years of University |
Enter the number of years the dependant will attend university or higher education. Calculations assume the dependant will begin university or college at age 18. |
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% Provided by Client |
Enter the percentage of the total education costs that your client is planning to provide. 100% means they plan to provide for all of the dependent’s education costs. |
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Red “X” button |
Click to remove this line item. |
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“Add” button |
Click to add a new line item. |