Our retirement income tool

At Standard Life, we want to help people feel more certainty about their future. 

But when it comes to saving for retirement, we understand that not everyone knows how much they might need.
 
Our Retirement Income Tool makes it simpler for people to explore their options and see what their life in retirement could look like.

Easily accessible via the mobile app or dashboard, our tool allows members to:

•    See the current value of their Standard Life pension
•    Choose if they want to include their expected state pension
•    And add in the value of any other pension plans 

Our tool incorporates the three different levels of retirement, based on the Pension and Lifetime Savings Association’s ‘Retirement Living Standards’ – ‘minimum’, ‘moderate’, and ‘comfortable’. 

Members can use our tool to check if their pension pot is on track to meeting their retirement lifestyle goals, and see what the different levels of retirement could look like. 

Not only that, it helps members understand what actions they might need to take if they’re not quite on track, from increasing contributions to changing their retirement age. 

Depending on their plan type, choices, and age, members will get tailored tips on: 

•    Combining their pensions into one easy-to-manage place if it is right for them,
•    How to be tax savvy with their pensions savings
•    And signing up to free retirement webinars throughout the year 

So, whether they’re at home, or on the go, our tool makes it simple for people to engage with their pension and plan for their financial future. 

*Transferring pensions isn’t right for everyone, there is no guarantee of a better income as a result.*