Stakeholder Pensions

Parents and relatives can set up a stakeholder pension for your child, the maximum amount that you can invest is £2,808 per year into this scheme, the government will top this up to £3,600 with basic rate tax relief.

 

The stakeholder pension must be set up in the name of a parent or guardian, the child cannot touch the money until s/he is at least 50 (possibly older), this is a very long term investment, however if you invest the full amount for 18 years, and assuming the fund grows by 7% per year, at 65 the child would have a pension fund of £3.1 million.

www.Investments.co.uk has information on everything you need to know about making the most of your money. You can also visit us at Link: www.insurances.co.uk to get the best deals on your car insurance.

 

UK Investments - Financial, Property & Other Investments - 1998-2008

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Investments Newsletter