L&G backing child pensions

Legal & General is promoting the concept of investing child benefits into a stakeholder pension for children as an early retirement savings plan. Research from the group shows that if parents invest the £15.50 per week per child into a stakeholder pension, the maturity value on retirement could be as high as £525,112, assuming annualised growth of 7% and maturity at 65. Based on today's figures, this would provide a tax-free lump sum of £131,278 at age 65 and an annual income in retirement of £36,632. Factoring in inflation it would still leave the yearly pensions worth £15,303 in today'...