Product updates and important notices

The retirement planner now gives you more flexible and easier-to-understand control over how retirement spending is set and how it changes over time.

This update replaces the earlier single taper-based spending setup with a clearer model built around Starting spending level and Spending pattern.

It includes the following improvements:

You can now choose how starting retirement spending is set

• Choose Automatic, sustainable to let the planner find the highest sustainable starting spend.
• Choose Set annual amount to enter your own starting annual spending target.
• Choose Percentage of retirement assets to anchor starting spending using a percentage of retirement assets at retirement start.
• This makes it easier to compare planner-led and user-led spending assumptions.

You can now choose a retirement spending pattern

• Use Front-loaded if you expect higher spending earlier in retirement, tapering later.
• Use Flat in real terms if you want spending to stay broadly level over time.
• Use Retirement smile if you want spending to ease in mid-retirement and rise modestly later.
• Smile settings remain intentionally simple, with preset-driven controls rather than a complex custom model.

Maximum annual spend is now handled more clearly

• Maximum starting annual spend now sits within the starting spending section.
• It is only used when Automatic, sustainable is selected.
• This avoids overlap and makes the spending controls easier to understand.

Retirement outputs now explain spending assumptions more clearly

• Summary, comparison, report view, PDF export, and Excel export now reflect the selected starting spending level and spending pattern.
• Export wording has been updated so spending assumptions are clearer and more consistent.
• Excel spending summaries now use actual projected spending-band values instead of older fixed shortcuts.

This update is designed to improve clarity without breaking existing saved scenarios.

Existing retirement scenarios remain backward-compatible. Legacy scenarios continue to load with the existing automatic front-loaded behaviour unless different settings are explicitly chosen in the planner.

The retirement planner now supports a simple annuity path so you can model using part of a pension pot to buy guaranteed income.

This update adds annuity support in a consumer-friendly way inside Guaranteed income and annuities.

It includes the following improvements:

You can now add a simple annuity for each person

• Add one annuity per person if needed.
• Keep annuities optional, you can still use the planner without them.
• Enter an annuity start age.
• Enter the amount converted as either a currency amount or a percentage of the pension pot.
• Enter an expected annual annuity income.
• Choose whether the annuity is level or increases each year.

Annuity income is now modelled separately from other retirement income

• Annuities are no longer treated as generic other income.
• The converted amount is removed from the pension pot at the chosen annuity start age.
• Annuity income is projected separately from State Pension and flexible withdrawals.
• This makes it easier to see the trade-off between guaranteed income and remaining flexible pension capital.

Retirement outputs now explain annuity trade-offs more clearly

• Results now show annuity income separately from State Pension.
• Summary outputs highlight guaranteed income before and after State Pension starts.
• Comparison now makes it easier to see changes in guaranteed income, withdrawal reliance, and remaining flexible pension assets.
• Retirement exports and report views now include annuity details more clearly.

This annuity support is intentionally simple. It does not include provider quotes, enhanced annuities, guarantee periods, value protection, survivor continuation, or multiple visible annuities per person.

Existing saved retirement scenarios remain backward-compatible. Plans without annuities continue to work as before, and annuity settings are only applied where they are explicitly present in the saved data.

The retirement planner now separates three different planning assumptions more clearly for each person:

• retirement age
• private pension access age
• State Pension start age

This update includes two retirement-planner improvements:

1. State Pension is now more realistic for each person

• You can now set an expected annual State Pension for each person.
• You can now set a State Pension start age for each person.
• The existing plan-level State Pension Growth Rate (%) is still used to project State Pension over time.

This means the planner no longer assumes that everyone receives the same full State Pension starting at the same age.

1. Private pension access is now modelled separately from retirement age

• You can now set a Private pension access age for each person.
• The planner uses this as a calculation constraint for private pension withdrawals.
• If retirement starts before private pension access, the plan will show a bridge period funded from other available assets and income until pension access begins.

This makes it easier to model the difference between stopping work, accessing private pensions, and receiving State Pension.

Existing saved retirement scenarios remain backward-compatible. Legacy scenarios keep their historical behaviour unless these newer assumptions are explicitly present in the saved data.

Scenario comparison is designed to help with practical “what if” planning, for example:

• changing retirement timing, spending, or assumptions
• testing different cash flow events, balances, or affordability paths
• reviewing different tax inputs or contribution choices
• comparing disposal timing, ownership, or losses in CGT planning
• testing estate assumptions, values, and executor-readiness changes

This release also adds comparison-aware exports where available, so users can keep a record of the scenario comparison they performed.

Scenario comparison is available within each planner. It does not compare outputs across different planning tools side by side.

CGT Planner is now live

The new CGT Planner is now available in Planiva.

You can now create and save Capital Gains Tax scenarios for straightforward UK disposals, including:

• listed shares, funds, and general investments
• second homes and residential investment property
• other chargeable assets

The planner helps you estimate:

• gross gain
• taxable gain
• Capital Gains Tax
• likely net proceeds

This release includes:

• a guided setup wizard
• save and revisit flows through the shared planner
• export support for readable estimates
• clear assumptions and warnings where the calculation is simplified

The CGT Planner is designed for planning use. More complex reliefs, specialist cases, and detailed matching rules are not included in this release.