Introducing the CoRI™ Retirement Indices
As a pension saver, you have more freedom than ever in deciding what you do with your pension pot following the rules introduced by the UK government in April 2015. You may be asking:
- Should I remain invested and draw cash when I need it?
- Should I purchase an annuity?
- Should I take my entire pension as cash?
The CoRI Retirement Indices provide an innovative and simple format that can help you understand your retirement choices in a practical way.
The CoRI Indices are based on a simple but powerful idea. If you can estimate the future retirement income your pension pot may provide, you will have insight into what your retirement may be like. You'll be able to adjust your savings and investing now - before you retire - to help get on course for the retirement you want. You'll also be able to compare your projected lifetime income against other strategies for creating retirement income.
To help you use the CoRI Indices quickly and effectively, BlackRock has developed an online tool - CoRI. With CoRI translating a lump sum into projected annual retirement income takes only seconds, providing an important baseline to help you make the necessary adjustments to your saving or investing approach in the years leading up to retirement, when good financial planning is essential. Simply provide your age and retirement savings and CoRI does the work.