The FinCalc Retirement Modeller enables Financial Planners to answer key retirement questions for a client or two financially linked clients with straightforward inputs. By taking pension funds, planned pension contributions and any other incomes, the modeller will provide results on whether the client’s retirement income objectives are realistic and achievable.

Gavin Shears, senior product consultant at FinCalc, said the new tool provides Financial Planners with a way to assess a client’s retirement income needs quickly and efficiently.

He said: “Since our Cashflow Modeller Launch in July 2020, we have been asked by many existing and potential customers to provide a way to answer the following retirement questions: Are my clients on track for their desired retirement income? How much investment growth do they need to meet their target? Do they need to make additional pension contributions? What would happen if there was a market crash? What level of income is sustainable in retirement?

“Whether a client is in the accumulation or decumulation phase, it is important that advisers have the tools required to answer these questions.”

The FinCalc Retirement Modeller supports full UK Income Tax calculations, Lifetime Allowance, and is able to design the income drawdown strategy to maximise income and minimise tax, taking in to account the positions of both clients in a couple.

The report produced by the tool includes the age that funds are depleted, the annual safety margin/additional annual growth required, the additional monthly/single contributions required and the cost of delay, the capacity to withstand a fall in value, and sustainable vs target income levels.

The latest development comes six months after the software provider announced that it has developed a two-way integration with back-office software Intelligent Office from Intelliflo. Users of the two systems can now transfer their clients’ personal and financial information between the two systems without any re-keying of information. Reports can also be automatically uploaded into Intelligent Office from FinCalc. FinCalc integrates with Intelligent Office (financialplanningtoday.co.uk)

FinCalc is the technology platform created by O&M Pension Solutions. O&M Pension Solutions was setup as a separate company in 2013 as part of the split of O&M Systems, and specialised in the TVC/TVA software and services market.