Individuals

EQ Hub

Setting up a...

12 July 2020

1 min read

Setting up a pension for the grandchildren

Ulrik and Silvia Andreas are fortunate to have both retired with final salary pensions. This has provided them with excess income that they wish save for the benefit of their only grandchild, Lucas.

Dale Scorer
Dale Scorer,

Financial Planner

Contributions of just £2,880 per annum until Lucas is 18 could equate to a pension fund of over £600,000 when Lucas reaches 55 if it grows by 5% each year. From 58, Lucas has the option to withdraw up to 25% of the fund (£150,000) tax free. (The current minimum pension age for taking benefits from a private pension is age 55. This is expected to increase to 57 in 2028).

Regular gifts made from ‘normal expenditure out of income’ will also be excluded from Ulrik and Silvia’s estate for inheritance tax purposes.

Dale Scorer

Dale Scorer


Financial Planner

Dale joined EQ in 2020 as a Senior Financial Planner and has worked in financial markets for over 11 years. She has held various positions in the finance industry, from currency trading to wealth management before settling as a Financial Planner in the UK. Dale brings a wealth of knowledge and experience with her, as well as a creative and unique approach to problem solving. As a retired professional athlete, who represented her country in gymnastics, she understands that no achievement comes without dedication. She brings that same commitment, determination and focus to her clients, helping them achieve their financial goals whilst building long term trusted relationships with them. Dale graduated with Honours in Finance from the University of Johannesburg, South Africa where she was born. She is also CFA charter holder, being a regular member of the CFA Institute and CFA UK society. Outside of the office Dale enjoys spending time with her family and travelling with her husband around the world aiming to explore and enjoy as much of it as possible

Connect

Recent articles by Dale

Coronavirus and school fees
Coronavirus and school fees

Use your ISA allowance
Use your ISA allowance

Looking to start investing?

Save £350 and book your free 1 hour consultation today

© 2021 EQ Investors Ltd. Company registered in England and Wales (No.07223330). EQ Investors Limited is authorised and regulated by the Financial Conduct Authority (Ref. 539422). UK Investors only.