Did you know that Children's Tax-Exempt Savings Plans (TESPs)also provide a long-term, tax-free way to save for your children's future? Click hereto find out more about a tax-efficient way to build up a nest-egg for your child in addition to a Junior ISA, and compare providers.
Free Prize Draw
Enter our FREE Prize Draw and one lucky winner, chosen at random, will receive £250 added to their Children Savings Account.
MyEggNest is giving away a fantastic FREE gift to any Mums and Dads who's got some experience with a Child Trust Fund. Please click here for more infomation.
Alternative to CTFs
Children's Stakeholder Pensions
You can now save towards your children's retirement with a Children's Stakeholder Pension in your children's name. This is a government backed scheme where you can invest up to £2,808 each year, net of tax, and the Inland Revenue will add 22% basic rate tax relief to this, bringing the total amount invested up to a maximum of £3,600 a year.
By starting a Children's Stakeholder Pension young, your children's pension pot will have a huge boost in comparison to those who waited until their working lives to begin paying towards a pension.
A contributions of £3,600 per annum between ages of 0 - 16 yrs (and then stopped) could leave your child with a potential pension fund value of £1,230,000 at age 60 (these projections are based on a medium growth rate of 7% with an Annual Management Charge of 1%, courtesy of Axa Sun Life).
Contact Steve Weisner - Senior Independent Financial Adviser - at Radcliffe Newlands on 0845 0217000 or Email Steve where he'll be happy to answer all your Children's Pension questions- Please mention MyEggNest
