Wealthy parent bonus could be even higher if you consider pension savings

Sarah Pennells, Consumer Finance Specialist at Royal London, comments on research from the Institute for Fiscal Studies (IFS), which found having wealthy parents leads to young adults being six times better off:

“These figures are very revealing, but they miss a trick by excluding pension wealth. This research shows that people with wealthier parents also tend to earn more and therefore save more as a portion of their earnings, so the overall value of the ‘wealthy parent bonus’ could be even higher.”