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False confidence over pension products

Many retirees have misconceptions about their sources of retirement income, according to research by the Financial Conduct Authority (FCA).

In a survey of around 13,000 people, 80% of people who had accessed their pension pots in the last 2 years said they understood their options well.

Nearly half (49%) of those who had not received advice about their pensions in the last year were also confident about their understanding of pension products.

However, the findings of the FCA report suggest this confidence was unfounded, as most of those surveyed misunderstood the features of different retirement income products.

41% did not know that an annuity would provide a guaranteed income for life, and 11% thought there was a risk it could go up or down in value.

Around 3 in 10 people (31%) had not heard of a single life annuity at all.

Most retirees were also mistaken about the features of income drawdown, as 63% were not aware that the value of their investments could change.

Get in touch to discuss your pension planning.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 01442 275767 or email newbusiness@easyaccountancy.co.uk.

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.