Tideway have developed these online calculators which help you make decisions about your pension fund.
You should bear in mind that these calculators provide estimates only. You should read the detailed guidance provided, and seek professional financial advice before making any decisions.
This calculator is designed to help those over the age of 55 who are considering making a one off withdrawal from their pension fund using the new pension freedoms.
It starts by showing you the tax you will pay on a one off taxable pension withdrawal given the other taxable income you already have for the current tax year. It goes on to show how this might reduce if you spread the withdrawal over up to three tax years.
This calculator is designed to help those who are going to use flexible drawdown as a means to generate income in retirement rather than buying an annuity.
It looks at the sustainability of income at different investment rates, the impact of taking a one off withdrawal from your fund and shows what the likely residual value of your fund will be depending on how long you live.