How much should I save?
You can open a stakeholder pension for each of your children, receiving tax relief on contributions of up to £2,880 for each tax year.
Tax relief turns this into £3,600, which is then invested in the stock market to grow over the years, building up a nest egg for your child.
You can pay in more than £2,880 if you would like to, but you will not get tax relief on any payments above that.
Don’t forget, grandparents, aunts, uncles and other adults can also invest in your child's pension fund once you have set it up.
Please remember that tax treatments may be subject to change in the future and the earliest your child will be able to take their benefits is 55.
