Pensions - Articles - Scottish Widows launches pension calculator for mobiles

 Scottish Widows has launched its first interactive pension calculator for mobiles that lets people work out if they are saving enough for retirement.

 As well as being available on mobiles at http://bit.ly/swpension, the calculator is also on the Scottish Widows website and Facebook page.

 Employer contributions can be included in the online version and people are able to compare their savings against the rest of the UK by age, gender, location and income.

 The pension calculator which lets IFAs and consumers see how the UK is preparing for retirement, uses demographic information from the 2013 Scottish Widows Pension Report, which surveyed over 5,000 people. The report, launched in May, is the industry's leading report on the state of the nation's attitudes to pensions and expectations of their income on retirement.

 Ian Naismith, Pensions Expert at Scottish Widows said: "Our report clearly shows that the number of people saving adequately for pensions is at an all time low which is a critical issue across the country. We also wanted to let people work out how this really affects them and the calculator is a really easy way for individuals to gauge how their savings compare with others in similar circumstances and if they need to consider saving more."