AMP has upgraded its Retirement Modelling Tool to model 900 annuity combinations, account-based pensions and Centrelink income, and stress test retirement strategies by running 2,000 scenarios.
In an announcement the firm said the tool would be available through its MyNorth and North wrap platforms.
AMP managing director wealth products and platforms, Rod Finch, said: “The modelling incorporates the risk profiles and circumstances of clients to produce simple visual timelines which summarise available retirement structures and income streams.”
“Centrelink pension payments, account-based pension and annuity structures, together with long-term market risks, are all considered,” he said.
“The modelling is a great demonstration of how technology can make the complex simple, and to help in the delivery of great financial advice.”