Pension pot dippers

ONE in five parents with adult children have dipped into cash originally intended for their pension to help their offspring, a survey found.

Some 19% of those surveyed had taken money out of their pension fund or sacrificed saving for their retirement to help their children financially. A further 19% have also made cutbacks to their lifestyles to pass cash to their kids. Meanwhile, 59% of those who have lent money to their offspring have later decided to write off some or all of the debt.