ABI launches pensions calculator for employers

The Association of British Insurers (ABI) has launched a pensions calculator designed to help employers select a pension scheme for their employees.

The tool enables employers to input pension charges, including active member discounts and initial charges, to obtain a simple analysis of the impact charges will have on employees’ retirement funds.

Tom McPhail, head of pensions research at Hargreaves Lansdown, said: “This tool will make it easier for [employers] to analyse the impact of charges and to compare different pension schemes.

“Hopefully it will reduce the risk of employees being enrolled into unsuitable schemes.”