Benefits Administration – definitions – Financial calculators

Financial calculators (see also pension modellers) allow employees to calculate the value of their own benefits, pensions and share options. In the case of pensions and shares the calculators are able to predict the value of the benefit in the future based on varying investment performance. 

These financial modelling tools are often used by financial advisors in giving financial education or by financial advice around retirement pensions. They are especially useful as communication tools to demonstrate to employees how much they need to contribute to their pension fund each month in order to retire with a reasonable pension. See also www.pensioncalculator.org.uk

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