Couples without children could boost their retirement pot by hundreds of thousands of pounds if they diverted the cost of raising a child into their pension, new number-crunching has revealed.
Pension firm Standard Life has said that doing so could give them an extra £351,000, based on its calculations.
Research by Child Poverty Action Group last year estimated that it costs approximately £250,000 for a couple to raise a child until the age of 18.
Spread evenly across 18 years, this equates to £13,900 a year.
According to Standard Life, if an adult contributed an additional £13,900 to their pension each year for 18 years from the age of 30, they could build a pension pot worth around £603,000 by the age of 68.
