Aegon has updated its retirement modelling tool for workplace pension members to help them benchmark their retirement needs.

The tool, MyTarget, has been modernised as part of Aegon’s ongoing investment in its workplace savings proposition with a new design and navigation system, and mobile-friendly interface.

It has also been updated to include Pensions UK’s Retirement Living Standards, supporting members in their understanding of what different levels of retirement could cost and whether they are on track to meet their retirement goals.

Aegon said the enhancements were the latest in its ongoing commitment to invest in its workplace proposition, aiming to ensure savers benefit from modern digital tools for their retirement planning.

It also hoped that the updates would improve engagement from pension scheme members.

“This latest development shows our continued commitment to investing in our workplace proposition and giving members the tools they need to make confident, informed decisions about their financial futures,” said Aegon workplace commercial director, Nick Roy.

“We know people can feel overwhelmed when thinking about how much they’ll need in later life, so integrating the Retirement Living Standards gives them a meaningful and relatable benchmark – something they can understand in a clear and concise way.

“Our sustained investment in engagement and digital innovation has enabled this enhanced design and usability of MyTarget. Members can now model their future in a way that feels modern, intuitive and accessible on any device.

“Ultimately, our goal is to support better decisions and long-term outcomes, and this refreshed tool will make a real difference to workplace savers using TargetPlan.”

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