A pension is 'better' than traditional christening gifts

The company which launched a stakeholder pension for children in October 2001 says a pension can allow contributions from as little as £1 a month with parents, grandparents, family and friends able to contribute up to £2808 each year and still have the pension qualify for basic rate tax relief. Virgin Money says new parents receive on average around £660 in baby gifts ranging form pushchairs to clothes, while savings schemes such as Child Trust Funds (CTFs) are also popular. But it claims families should start asking for pension contributions for their child, as a starting figure of £66...