Popular Frequently Asked Questions

See all of our FAQ help points

Where do I enter the income tax deducted from my income.

LifePlan automatically calculates your income tax and shows your net income in the Income Breakdown chart.

What does LifePlan mean by general estimate for income (yield)?

This is how much you estimate your investments to pay out (or re-invest) as annual income expressed as a percentage of the capital sum invested.

Where will I find the annual National Insurance Contributions (NIC) deducted from my annual pay.

You can get this from your P60 or from your employer. Alternatively, you can estimate the annual figure by taking the NIC from one of your payslips and multiplying this  by 12.

I have answered all the questions and my current progress shows less than 100%?

Do not worry if this occurs as you may have legitimately skipped a step. Lifeplan will still calculate in most cases where progress is less than 100%.

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.