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Pensions & Retirement

Nucleus introduces tools to ease pension calculations for advisers

These tools aim to save advisers time and help them stay informed about pension and policy changes.

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Nucleus introduces tools to ease pension calculations for advisers
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Nucleus has expanded its range of adviser resources with new pension tools designed to simplify pension calculations.

These tools aim to save advisers time and help them stay informed about pension and policy changes.

Developed by Dunstan Thomas, the Nucleus group’s fintech subsidiary, the calculators focus on annual allowance and salary sacrifice scenarios.

The annual allowance calculator helps determine how much can be saved into a pension scheme without incurring a tax charge, taking into account previous tax years and tapered allowances.

The salary sacrifice tool illustrates the potential impact on take-home pay when exchanging salary for pension contributions, considering income tax and National Insurance.

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The salary sacrifice calculator allows advisers to compare relief at source and net pay/salary sacrifice.

They can also adjust the client’s personal allowance, specify their UK tax location, and indicate whether employer National Insurance savings will be passed on.

Alternative pension arrangements can also be specified to compare different contribution scenarios.

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Andy Tully, technical services director at Nucleus, said: “Adviser’s time is precious, as is their client’s time, so we want to help wherever possible.

“Within the Nucleus Group we have deep pensions technical expertise.

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“We aim to provide the products and services advisers need to create and manage a holistic financial plan for their clients, so they can achieve their investment goals and ultimately help make their retirement more rewarding.”

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Tully added: “With all the complex changes around pensions in recent years, having the tools available to demonstrate what clients can save towards their retirement is more important than ever.”

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