A short video by Ndubuisi 'Andy' Egwim discussing saving for children and comparing Junior ISAs with pensions. The speaker suggests pensions as an alternative because pension access ages (currently 55) delay access until later life (rising to 57 in 2028), which can prevent children from spending savings at 18.
55 years (rising to 57 years in 2028).
Some people worry. I don't want to open a junior isa. I don't know if my child is going to blow up the Junior ISA when they turn 18. Buy a Ferrari, do a big party. So one other way could be a pension. Because sip, even for yourself, you can assess it from 55 years, is going up to 57 years in 2028. So your child, even if you are worried that, oh, by 18, they wouldn't have any. You know, some people say by 18, you never get sense in Nigerian palace. Well, they can actually get it at 55. Even if you think, oh, why would I be putting aside that money for 55? Remember, at the end of the day, still, the money you are giving to your child.
