Helping employees take control - Our tools and calculators

We’re very proud to support workplace savings. As part of our commitment to you and your members, we offer a range of tools and calculators - to help raise financial confidence and encourage engagement with financial planning.

And to make sure we continue to improve your members’ experience; we also monitor usage and review usability of these tools.

Planning for retirement can be daunting and confusing. It’s very difficult to know how much you need to save for the future especially while balancing current living costs and commitments. Having a target retirement fund can really help.

Members can then make smarter decisions now about saving and adjust their financial plans if their circumstances change in the future.

Everyone’s retirement will look different - but that’s where our tools and calculators come into their own:

1. Our Retirement calculator can help members decide what kind of lifestyle they'd like in retirement and if they're on track to achieve it, using the Pensions UK Retirement Living Standards.
2. The Power of Small Amounts tool shows the impact that increasing contributions could make to your members’ future retirement.
3. Our Video Benefit Statements also highlight how a 1% increase could boost pension savings and income in retirement, providing an idea of future returns and encouraging members to think about increasing their retirement savings - if they can afford to.

A workplace pension may be the cornerstone for workplace savings, but we know the value of having strong financial foundations.

Fidelity research shows that nearly three quarters of employers we asked now feel highly responsible for the financial wellness of their employees, indicating that this has become a vital component of a benefits strategy.

The Financial wellness tool provides valuable insight and tips to make smarter financial decisions on four key pillars – budgeting, debt, savings and protection.

There’s a lot to consider, but our tools aim to improve financial confidence and help members understand their options and decisions.

1. Flexible income calculator - helps members over 55 understand how long their retirement income might last, if they keep some - or all - of their pension pot invested and take regular flexible income from it.
2. Retirement budget calculator - a useful way for members to estimate household budget requirements in retirement - often very different to budget requirements during their working lives.
3. Pension tax calculator - a guide that summarises how much tax may be payable on retirement benefits, depending on how and when a member starts taking money from their pension savings.

Within Planviewer, members can also use a range of tools and calculators to help them understand their savings, assess investment choices, contribution rules and where their money is invested. The costs and charges and annual allowance calculators are also available through the links provided.

1. Income view - For members who are saving for retirement and under 55, this provides a snapshot of what level of income their pension savings could provide in retirement - using the same projection information as the Annual Benefit Statement.
2. Chart and Compare - Members have the option of a default investment choice, FutureWise, or if they prefer, they can make their own investment decisions. This tool enables a comparison between up to seven funds to assist with decision making if they decide to choose from the self-select range.
3. Costs and charges - Understanding the charges associated with managing and administering member investment strategy options.
4. Annual Allowance calculator - Keeps members informed as to whether they’re within their contribution limits.
5. Illuminate - Members can look at the companies their pensions are invested in and share their views on company issues. Fidelity will then vote on these matters and provide feedback on behalf of your members.

Our calculators are designed to be easy to use and give your members a better understanding of workplace savings. We want you and your members to engage and make the most of workplace savings -a valuable employee benefit.