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Millennial pension income to match baby boomers

Young adults are expected to receive a similar pension income to older generations, a study claims.

A report by the Resolution Foundation has challenged pessimistic expectations of the younger generation's retirement income.

Widespread public opinion on the future prospects of young people sees retirement as a concern second only to housing.

However, millennials are expected to receive a similar level of pension income to that of baby boomers retiring in the 2020s.

The report attributes this more optimistic prediction to a series of reforms established over the past 10 years, such as auto-enrolment schemes and the new state pension.

While these improvements were noted, the report highlighted concerns with living standards at retirement across all generations.

1 in 5 recent retirees currently fall short of the Minimum Income Standard, a figure that is set to remain consistent for future generations entering retirement. 

The report concluded that "neither pessimism nor complacency is warranted," and emphasised the need for continued efforts to boost living standards in retirement.

Contact us to discuss your retirement.

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.