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Retirement Age |
Enter the age at which each client will start retirement. At the start of retirement, the client’s salary will end and income needs will adjust to post-retirement amounts. |
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Start State Pension at Age |
Enter the age at which the client will begin receiving state retirement benefits. State Benefits can be entered on the Household Information screen and the State Benefits Annual Increase Rate can be adjusted on the Assumptions screen. |
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Percentage of Current Income to Provide |
Enter the percentage of the client’s current income that will be needed during retirement. Amounts are adjusted annually based on the “General Inflation Rate” entered on the Assumptions screen. Please bear in mind income from retirement plans and State Pension Benefits are liable to income tax. Therefore the percentage of current gross income required should include a portion for taxation. |