Annuity Calculator – Aviva online retirement income calculator

Aviva (formerly Norwich Union) and one of the major providers in the retirement market has launched a new online annuity calculator. It has a simple interactive graphic interface and it’s designed to make it easier for customers to understand the annuity options available to them and to work out how much income they may get from their pension fund.

Kevin Stelfox, Sales Director at retirement specialist Retirement Solutions said, “this online annuity calculator can help you understand how much your retirement income may be from your pension fund. You do not have to buy your annuity from Aviva to use the calculator, it is available for anyone to use. As with any financial services product it is important to seek independent financial advice before making a purchase”

Clive Bolton, “at retirement” director for Aviva, said: “Many people still don’t take an active role in buying their annuity and we believe this is because they think it’s a complex process. The trouble is – when you buy an annuity that’s the income you will receive for the rest of your life. So if you don’t shop around to get the best deal, it could literally cost you thousands of pounds over the years.

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