You can take an action today which could give your children hundreds of thousands of pounds in the future for ‘free’. How? Junior pensions!
A Junior Pension is a savings account that you set up for your children or grandchildren. You can pay in up to £2,880 per year. The government tops up the amount by 25%, taking the total up to a maximum £3,600 per year. This money is held in their name and invested on their behalf, tax-free, until they can access it from age 55.
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