LONDON, January 28, 2011 /PRNewswire/ -- 'Silver savers' put away just over GBP1k a year for their grandchildren; according to new research by C&G Savings. As a result, many grandchildren could be handed nest eggs of up to GBP20k by their grandparents at some stage during their life. With yearly contributions hitting GBP1,094 and the majority of 'silver savers' (27%) getting into the savings habit as soon as a grandchild is born, many grandchildren could receive nest eggs of up to GBP20k (GBP19,692) when they reach 18 years of age. One third of grandparents (33%) are currently saving for their grandchildren. The 'silver saver' phenomenon increases as grandparents get older and is higher amongst those aged over 65 (37%) compared to those aged 35 to 44 year olds (14%).
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