Popular Frequently Asked Questions

See all of our FAQ help points

What does LifePlan mean by inflation?

This is how much you estimate or expect the cost of living to increase by each year. You can use a Government index e.g. Consumer Price Index or you can choose your own value.  LifePlan will show you the future values of your assets and incomes after the effect of the general inflation rate you have selected. This will help you assess future values in today’s terms.

What does LifePlan mean by ‘surplus’ in the Lifeplan Desired Income chart.

This is the amount of planned income in a year that is in excess of your selected Desired Annual Income.

What do I need to enter the amount of cash I have?

LifePlan calculates each year how much capital you need to use to provide your Desired Annual Income. The ‘capital take’ you need uses up your available cash first, by default, before using the capital from any other of your investments. It is possible to change the order in which LifePlan uses capital take – see ‘change the order’ adjacent to the chart selection tabs.

What are 'Total Net Assets'

Total Net Assets in the Lifeplan Charts and in the Snapshot means 'All of your assets less any debts'.

What does LifePlan mean by Private Pension Plan?

A Private Pension plan means any pension plan where you have accumulated a fund that will be used in the future to provide an annuity or an income drawdown arrangement e.g. a Personal Pension Plan (Individual or Group), a Stakeholder Pension Plan (Individual or Group), a Defined Contribution (Money Purchase) Occupational Pension Scheme, a S32 Buy Out Plan.