Specialist actuary, Spence & Partners, who provide actuarial support to Independent Financial Advisers, have launched a longevity calculator. The calculator, which is free to download from the Spence & Partners website www.spenceandpartners.co.uk looks to assist financial advisers and their clients in evaluating life expectancy as part of the process of establishing cash flow requirements in retirement.
Spence & Partners Development Director, David Davison, commented “Life expectancy is a really hot topic at the moment. We have been approached by a number of financial advisers we work with who were struggling to provide some sort of statistical modelling for their clients which would allow them to identify their financial objectives and risks in retirement. Whilst the cash flow models used by many advisers are very sophisticated the factoring for life expectancy tends to be much more of a ‘gut feel.’
The calculator we have designed provides a probability of survival to each age based on specific ages for single and joint lives. The calculator also allows the adviser to chose the mortality tables used (heavy, light and national average) to reflect regional and individual variations and also allows assumptions to be made about the potential future improvements to life expectancy.”
Questions about Spence & Partners’ calculator or the support services they offer for IFA’s, Professional firms and clients can be directed to firstname.lastname@example.org.
For further information please contact David Davison at Spence & Partners (www.spenceandpartners.co.uk) on 0141 331 1004.
Issued on behalf of Spence & Partners by Blueprint Media tel 0141 353 1515
Date: 20th February 2008