Ndubuisi Egwim explains how to set up pensions for non-working people and newborns. You can contribute £2,880 net for a child, and the government tops it up to £3,600 through tax relief. A newborn could accumulate over a million pounds by retirement.
£60,000
£2,880 (net)
£3,600
So that's one way you can use private pension but here is something I've never said in a video I've said it in our four weeks master class I've said it in our mastermind sort of the private groups Every child that you just give back to that give birth to Today the government allows people who are not working to have a pension so if you're working Your maximum is 60k but if you're not working whether you are stay at home mom, stay at home dad, wherever you are or you're a newborn baby you can have a pension and if you put any money in the pension the government gives you tax relief on the pension so they add some money on the money put inside the pension Let me say it again with numbers if you put, if you put 2880 that's a maximum net into a pension fund for a child that is genius ship the government will top it up to £3,600.
