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Fidelity enhances online tools

by admin
March 3, 2009
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The provider’s new investment profiler analyses a DC member’s attitude to risk and provides a suggested mix of assets leading up to retirement.

Its new retirement planner offering comprises a more detailed online resource that aggregates current and future pension and non-pension savings, for the member and their spouse to provide a projected income in retirement.

All the tools are based on stochastic modelling, which aggregates past and expected investment returns and longevity data to create a potential outcome. Fidelity says that while some planning tools generate one average rate of return and apply it across the entire time horizon specified by the user, its calculations use average rates of return that are regularly amended to take into account market spikes and falls, including those that occurred in 2008, providing, it argues, moreaccurate results.

Julian Webb, head of UK DC at Fidelity says: “These newly enhanced planning tools offer DC scheme sponsors a more effective way of engaging with their employees. The majority of tools available on the market provide a simplistic view of retirement targets and projected income with little opportunity to model different combinations of variables. Fidelity’s online tools, which use a more dynamic and accurate form of stochastic modelling, will help members set better goals.”

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