AA IncomeCalc is an interactive app designed to help individuals estimate the total amount of tax relievable pension savings they are able to make into their pension schemes, over a tax year.
The interactive AA IncomeCalc app is available for FREE on iPhones, iPads and AndroidTM smartphones.
Willis Towers Watson developed the AA IncomeCalc app in response to new rules from
April 2016 which link the amount of tax relievable pension savings an individual can build up each year, to their income. The introduction of these rules has led to greater complexity, resulting in many more individuals being impacted by the annual allowance (AA) than ever before.
- Intuitive interface – helps individuals to navigate this complex topic in an easy and logical way via step-by-step calculations
- Numerical outputs – enables individuals to better understand the impact of the AA on their pension savings
- Help file – provides further information on the AA rules from April 2016
- Confidential – ensures personal information is not transmitted online and never leaves an individual’s phone
- Planning ahead – allows individuals to estimate their position for future years
Frequently asked questions
- How do I get AA IncomeCalc?
AA IncomeCalc is available for download on the App Store and on Google Play.
- How much does AA IncomeCalc cost?
AA IncomeCalc is free to download and there are no usage charges.
- I’m an employer/pension manager – can I use AA IncomeCalc for my employees?
Yes – you can tell your employees about the app and let them know where to find it. Your employees can then enter their personal information directly into the app without needing to share this information with you.
The app is ideal for complementing wider communication programmes you put into place to support employees through this complex area.
Further questions? Email: AAIncomeCalc@willistowerswatson.com
The issues are complex and individual employees should not take any action without first reviewing the options offered by their employer and, if necessary, taking specific financial advice.