A growing number of parents are opening pension funds for their children, with one family saving £100 a month for a toddler and a baby.
The account focuses on parents who have chosen to make regular retirement contributions on behalf of their children while they are still very young. The family featured is putting a combined £100 into pensions each month for the two children.
The approach reflects an effort to begin long-term financial saving during childhood rather than waiting until the children are older. The supplied material does not provide further details about the family’s reasons, the type of pension involved or how the contributions are divided.
It also does not specify how many parents are taking up this approach, although it describes the number of families opening retirement funds for children as growing. The latest information available is that the family continues to make monthly payments for both children.
