Hi, I'm 25 and doing pretty well for myself. My mother (mid 50's) is separated from my Father, owns her own home, has a decent job and is not in any financial trouble or anything, but I still worry about her future as she has no pension and who knows what will happen with the state pension, etc..
I was wondering if it would be possible for me to start a pension for her, and pay into it regularly over the next ten years until she retires? I dont know a ton about this issue, so it may not even be possible. If it is possible, what would be the best product for me to choose? What would the tax implications be for us both ? Note, my income is not taxable (gambling), for whatever relevance that has
If anybody has any alternative ideas as a means of securing her financial future, I'd be very interested also Thanks
I was wondering if it would be possible for me to start a pension for her, and pay into it regularly over the next ten years until she retires? I dont know a ton about this issue, so it may not even be possible. If it is possible, what would be the best product for me to choose? What would the tax implications be for us both ? Note, my income is not taxable (gambling), for whatever relevance that has
If anybody has any alternative ideas as a means of securing her financial future, I'd be very interested also Thanks