Voya Financial, Inc. announced a new collaboration. They worked with SAVVI Financial to launch a new tool. This next-generation solution is a Personalized Retirement Income Guidance Tool. It gives plan participants actionable, tailored guidance. This support is key as they approach and start retirement. Eligible Voya participants will receive this new experience. It will be rolled out over the coming weeks at no extra charge. This new tool combines Voya’s workplace savings experience. It also uses SAVVI’s advanced optimization engine. This blend delivers highly relevant insights to users.
Some tools offer broad estimates from limited inputs. This new solution is different. It incorporates a wide range of real-world financial factors. These factors include taxes, pensions, and Social Security timing. They also include health insurance and withdrawal strategies. This gives a detailed view of retirement expectations. Participants learn steps to improve their financial outcomes.
Achieving Financial Confidence
The new tool aims to change the game. It helps people see what their future looks like clearly.
Laurie Lombardo, senior vice president at Voya Financial, said:
“We’re advancing Voya’s commitment to meet individuals wherever they are on their retirement journey to help them increase their financial confidence. The guidance is intended to help participants make informed decisions. This support lasts throughout every stage of retirement.”
Participants receive retirement income estimates. These are visualized based on market assumptions. The tool also provides withdrawal optimization. This offers tailored strategies for tax-efficient sources. It helps optimize income each year.
Chris Moran, head of Partnerships at SAVVI Financial, commented on the solution:
“This participant tool changes that by meeting people where they are – helping them see what their financial future could look like, and giving them clear, personalized steps to help them get there. It takes the guesswork out of one of life’s biggest transitions.”
This level of advice was once only available from specialized financial planning services. Consequently, the Personalized Retirement Income Guidance Tool democratizes access. It helps people boost financial security. Using this Personalized Retirement Income Guidance Tool gives users confidence.
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News Source: Businesswire.com
