Could someone actually calculate and explains everything?

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Part A (45% of the mark for this assignment) Question 1 Tanya is 39 years old and has never saved into a pension previously. She has started a new job. Her gross earnings are £28,500 per year and she is automatically enrolled into her employer's defined contribution pension scheme. Tanya contributes 8% of her earnings and this is topped up by 5% by employer contributions and tax relief. At retirement. she also expects to get a state pension worth £9,627.80 (before tax} in today's money. 1.1 Using the 'Pension calculator', work out how much disposable income Tanya will have in the first year of retirement if she retires at age 68 and uses the whole of her pension fund build up under the defined contribution scheme to buy an annuity (which. in the calculator. is an index—linked annuity). /— Assume that there has been no increase in Tanya's real income or pensions savings strategy over ,/ this time period. (2 marks) f '6 1.2 Using the 'Pension calculator': \ - a.Work out the sum of Tanya's disposable income and drawdown 'income' in the first year of retirement if she retires at age 68 and uses the whole of her pension fund for drawdown, choosing to draw out a fixed income equal to 33% of her gross pre— retirement income. {2 marks) . b.Comment on the sustainability of Tanya's drawdown strategy. (3 marks) 1.3 Describe one advantage and one disadvantage for Tanya in choosing an index—linked annuity rather than drawdown. (4 marks) 1.4 Discuss two policies which a government could introduce to reduce the generosity of a state pension scheme in a country. (4 marks) {Total marks: 15 marks)

Part A (45% of the mark for this assignment) Question 1 Tanya is 39 years old and has never saved into a pension previously. She has started a new job. Her gross earnings are 28,500 per year and she is automatically enrolled into her employer's defined contribution pension scheme. Tanya contributes 8% of her earnings and this is topped up by 5% by employer contributions and tax relief. At retirement, she also expects to get a state pension worth 9,627.80 (before tax) in today's money. 1.1 Using the 'Pension calculator', work out how much disposable income Tanya will have in the first year of retirement if she retires at age 68 and uses the whole of her pension fund build up under the defined contribution scheme to buy an annuity (which, in the calculator, is an index-linked annuity). Assume that there has been no increase in Tanya's real income or pensions savings strategy over this time period. (2 marks) 1.2 Using the 'Pension calculator': a.Work out the sum of Tanya's disposable income and drawdown 'income' in the first year of retirement if she retires at age 68 and uses the whole of her pension fund for drawdown, choosing to draw out a fixed income equal to 33% of her gross pre- retirement income. (2 marks) b.Comment on the sustainability of Tanya's drawdown strategy. (3 marks) 1.3 Describe one advantage and one disadvantage for Tanya in choosing an index-linked annuity rather than drawdown. (4 marks) 1.4 Discuss two policies which a government could introduce to reduce the generosity of a state pension scheme in a country. (4 marks) (Total marks: 15 marks)