What's new
Use this page to stay up to date with the continuous improvements we do to our APIs. We'll regularly add any new functionality, technical details and high-level descriptions here. It's an easy way for you to learn about the latest updates and releases – helping you get the most from our Developer Portal.
Read on to see the latest updates.
Latest updates mean you can use the Advanced Retirement API to give your consumers a complete picture of their retirement.
The latest updates mean the API can:
- Model other incomes that will supplement retirement, such as part-time work or rental property
- Access funds invested in property from a specific sale date
Your users can now define multiple targets throughout retirement too. So, you can allow for specific goals and any changes in spending. We know that a retiree's income requirement rarely stays the same, so an API that allows for this gives your users a more realistic forecast.
"otherIncomes": [
{
"value": 12500,
"todaysPrices": true,
"startDate": "2019-01-15",
"endDate": "2030-01-01",
"increase": {
"basis": "RPI",
"rate": 0
},
"taxEligible": true
}
],
With the added retirement incomes, you can include start/stop dates and increases to individual incomes. And multiple incomes can be passed-in on the call too. Here's an example of someone with a part-time job for the first three years of retirement:
"properties": [
{
"mainResidence": true,
"currentValue": 75000,
"valueIncrease": {
"basis": "RPI",
"rate": 0
},
"futureSaleDate": "2028-01-01",
"purchasePrice": 0,
"rental": {
"income": 0,
"increase": {
"basis": "RPI",
"rate": 0
}
}
}
],
The property asset is also an optional section. It lets you enter specific value increases and a future sale date, at which time the funds become accessible. Users can specify rental incomes on the property asset too. Here's an example of a property increasing in line with market conditions, before being sold in 2025:
When a property is sold, the funds are passed into a current account and accessed if there is a shortfall.
The option for multiple targets has also been added as a new optional section. It will act in tandem with the current targetOptions to ensure backwards compatibility. The new fields now capture target frequency, start date and stop date. This allows for a varied income in retirement.
It is now possible to invest a fund in a risk profile, rather than being restricted to funds or asset classes. This enables the forecast to utilise the efficient portfolio that has been designed specifically for the user's risk rating, risk benchmark, and investment term. EValue's efficient portfolios are reviewed and updated quarterly in order to remain aligned to the current market conditions.
All of our Investment and Retirement APIs now fully support investing in a risk profile, for any term and risk benchmark. The fund object has 2 new fields to support this: riskGroup and riskTerm.
The riskGroup field relates directly to the risk benchmark: our standard offerings are 5, 7, 10. The riskTerm puts the focus of the risk profile's efficient allocation on the user's individual goals. This field therefore has been separated from the more commonly used forecast term to allow for a more personalised projection. The user's risk profile is captured under the code, as per the usual fund, with the prefix “risk”.
"funds": [{
"riskGroup": 5,
"riskTerm": 10,
"code": "risk1",
"balance": 10000,
"contributionPercentage": 100,
"adjustment": 0.1
}]
You can now specify an index when using the ability to view the user's forecast in today's prices.
The forecast options allow the model results to be adjusted for inflation, so they can show results in today's prices or future prices. Our Investment and Retirement APIs use the Retail Price Index as a measure of inflation by default. Now they also support Consumer Price Index.
"forecastOptions": {
"todaysPrices": true,
"todaysPricesIndex": "CPI",
"taxOptions": {
"region": "UK"
}
}forecastOptions object has a new field to support this: todaysPricesIndex. Here's an example of how the user views their prices in today's value, using the Consumer Price Index as inflation.There have been a number of bug fixes included in this release in order to improve the functionality offered to users entering retirement.
- We have addressed an issue whereby the user's current value wasn't being shown in year 0 of the forecast if they were retiring immediately.
- Also, where a user's retirement date isn't aligned to their date of birth we previously experienced issues as the modelling is processed in complete years. In order to best reflect how a user might act, we now take the lump sum in the year of retirement.