Gem Durham, independent financial adviser at Obsidian, said that “it absolutely makes sense for families where one parent earns in excess of £50,000 to make additional contributions”.
She said: “This is where regular reviews with an IFA are invaluable, as it is uncommon for people to do this sort of planning without the input of an IFA, whether this is through lack of understanding or apathy.”
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Mr Chan agrees.
He said: “It is important to sit down with a qualified independent financial adviser and take a holistic view of the family’s finances and make sure it is all efficient.”
maria.espadinha@ft.com
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