Working parents missing out on £720 a year free cash - Birmingham Live

Contributing sentiments towards policy:

58% : This cash is due to the tax relief of pensions and contributions, which is a 20% basic rate of income tax.
56% : This is equivalent to £2,880 of your money and £720 in tax relief.
54% : That is because if you earn less than £3,600 a year, you can get tax relief up to this amount of pension savings each tax year until you are 75.
49% : READ MORE Car tax rule change for all disabled drivers in England from April 2025 Ruth Handcock, chief executive of Octopus Money said: "As a working parent who has experienced parental leave twice, I empathise with those families who want to celebrate the joy of having children without compromising on their financial security for later life." "And it's not just new parents: our coaches regularly hear from parents who say they wish they'd thought about pensions and parental leave earlier.

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