Pensioners' savings to give grandchildren a head start in life

Pensioners' savings to give grandchildren a head start in life
 

More than half plan to help fund their grandchildren’s future with an average gift of £10,225, according to savings specialist Scottish Friendly.
Grandparents hope the windfall will help loved ones fund the cost of getting on the property ladder or reduce the impact of university fees.
They are keen to help despite today’s rock-bottom savings rates, with one in three setting aside money in cash.
The average easy-access cash individual savings account (ISA) currently pays just 0.82 per cent, only marginally above the 0.6 per cent rate of inflation, according to MoneyFacts.co.uk.
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5 October 2016 in Business, Views: 37
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