Grown up children paying rent

[ivykaty44]

You know the story, adult off spring living at home and paying rent, then the parent saves it up for them and gives to them when they leave home

Well wouldn’t it be better financially if they put that money into a pension, like from the start

If they’re living at home just arrange for the off spring to put into a pension.

Nothing wrong with adults all contributing to household and bills etc. Rent can be spent on those things and should be

But if you’re going to save it up, I’d be far better to be putting an extra £200 in a pension scheme for 4/5 years than sitting in a bank earning diddlysquat

Huh? I was under the impression the kids payed rent to contribute because it was needed and because they could, not so it could be saved up and given back to them. I have never heard of that.

If someone is rich enough not to care about the rent then why even bother making them pay it in the first place other than it’s the grown up thing for them to do?

I find secretly saving money for other adults and giving it back to them as a surprise deeply odd and patronising. I think most young adults are better off saving for a house deposit than a pension as the expenses incurred in early adulthood are likely to need all your resources thrown at them. Getting secure housing will boost your retirement income long term anyway as after a time you will spend proportionally less on housing and can spend more on savings/pensions. A lifetime ISA is a good option for young people saving to buy a house as the government puts in 25% of what you put in, but obviously this is something people need in their own names rather than their mum doing it behind their backs.

My adult children don’t pay rent as I am not their landlord. They pay a contribution towards joint bills and by their own food.
Luckily they have taken on board the importance of saving and don’t waste all their spare cash on things and are saving for mortgage deposits. They have already sorted out and our paying into private pensions.
My husband died before 60 and his pension passed to me but I only get 50% of what it would have paid out to him and I only get it for as long as I don’t remarry or cohabit. As I have no intention of doing either I will get it for the rest of me life and it is index linked.