Pensions explained
Pensions are a great way to save for your children’s future, especially as they are incentivised by the taxman.
Every £80 you pay in is automatically topped up to £100, giving your child’s savings an immediate boost of 25%.
This, combined with the opportunity of a lifetime’s stock market growth, will give them a great head start on saving for their future, and could set them up for life when they retire.
The amount of pension income provided by your child's retirement fund will depend on a number of factors, including investment return and annuity rates when they retire.
Please remember that your child's money is tied up until they take their benefits (at age 55 or more), and that the law and tax rates may change in the future and the value of tax relief will depend on individual circumstances.
