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UK parents withdraw £2.75bn from children’s savings in lockdown

By Michael Griffiths

18/09/2020

Parents across the UK have withdrawn a total sum of £2.75bn from their children’s savings since the beginning of lockdown on 23 March, new research from Direct Line Life Insurance has revealed.

The research suggested that families have needed to rely on their children’s savings to get them through the impact of reduced salaries or unexpected unemployment caused by COVID-19

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UK parents withdraw £2.75bn from children’s savings in lockdown

Parents across the UK have withdrawn a total sum of £2.75bn from their children’s savings since the beginning of lockdown on 23 March, new research from Direct Line Life Insurance has revealed. The research suggested that families have needed to rely on their children’s savings to get them through the impact of reduced salaries or unexpected unemployment caused by COVID-19

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