How old do you have to be to start your retirement fund?

This question and answer originally appeared at Quora.

As early as possible; yesterday would have been better.

In the UK you are able to start a pension from birth. Your parents or grandparents can contribute up to £2,880 pa and you will receive basic rate tax relief, making the full contribution £3,600 gross pa.

These funds are also able to grow largely tax free.

It is perhaps one of the best financial choices you can make for your children.

Hope that helps

This answer first appeared here.

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Mark Underdown

Financial Coach, Small Acorn Money

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