Please contact us if you have a question that you would like answered.

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What does the 'FV' in MoneyFV.com stand for?

FV is short for future value. The term 'future value' is used in financial calculations - it means the value of an asset at a specific date in the future.

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What assumptions are used in the pension calculator?

The simple version of the pension calculator uses the following assumptions:

• Inflation - 2.7% - the average annual change of the Consumer Prices Index over 10 years to June 2013.
• Contribution increases - 3.0% - the average annual change in total pay over 10 years to May 2013.
• Rate of return – 6.0% - Based on historic returns of a diversified portfolio of investments.
• Annuity rates – Variable - Based on best buy tables published in July 2013 for those aged 55 to 75.

It is important to review your contributions on a regular basis as the assumptions chosen for the calculation are unlikely to match what happens in practice.

You can choose your own assumptions with the advanced version of our pension calculator.

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Why doesn’t the final result of the calculation match my target amount exactly?

The monthly contribution amount is rounded up to the nearest penny so that it meets or exceeds the target. For example:

In order to reach a target of £14,000.00 in 10 years time with a return of 5.5% per annum, you need to invest £88.011824 per month. This is the minimum amount required. Obviously you can’t contribute fractions of a penny so we have to round up to £88.02 to ensure that we reach the target amount.

In this example the amount accumulated after 10 years is £14,001.30. If we were to round down to £88.01 the amount accumulated would only be £13,999.71

We round in the normal way when the calculation assumes annual increases to contributions.