The Pensions page lets you add as many pension benefits as you need - employer, government, or union pensions - and each source can be assigned to you or your spouse. Income annuities have a separate page.

Supported pension payout types:

• Single Life
• 10 Year Certain
• 50% Joint & Survivor
• 75% Joint & Survivor
• 100% Joint & Survivor

If you have a different pension type that isn't on this list, email info@retirementfigures.com with the details and we'll look at adding it. Some non-standard pensions can also be modeled fairly closely using the Passive Income type on the Work & Other page.

When the pension starts - the Start age uses calendar-year-of-age semantics: the pension begins on January 1 of the calendar year the owner reaches that age, and the engine credits a full 12 months of payments in that year regardless of which month the birthday falls in. The same applies to lump-sum pensions - the lump sum is deposited on January 1 of the calendar year the owner reaches the configured age.

If your pension actually begins mid-year (for example, the month you turn 63), the first plan year will be slightly overstated. Two simple ways to model this more precisely:

• Set the Start age one year later than the actual eligibility age. Payments then begin in the following calendar year - usually closer to reality if your birthday is in the second half of the year.
• Or reduce the monthly amount for the first year using a separate pension source that ends at the full-eligibility age, then add a second source at the full monthly amount starting one year later.

The same calendar-year-of-age convention is used for Social Security except when you specify a first-check month, which is then honored exactly. This is why Social Security in the first claiming year is typically partial (e.g. four months for a September first check) while a pension starting that same year is credited as full.