Preparing for retirement involves estimating necessary income and understanding different pension types, with tools available to help calculate the amount needed to maintain your lifestyle.
This article explains the differences between Defined Benefit and Defined Contribution pensions, highlighting their respective advantages and risks, alongside the role of the State Pension in retirement planning.
Saving Tool UK has made several updates for 2024/25, including tax rate changes, improved simulation accuracy, and a new Umbrella Calculator for contractors.
Saving Tool Advanced enhances personal finance management in the UK with deeper insights, improved simulations, and new features while remaining user-friendly.