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Stakeholder as a 'present'
azjh77
Posts: 925 Forumite
Firstly, hello all (newbie here)
I have, this week, opened my daughter her first bank account. I have been considering a stakeholder pension for her birthday present next month (she'll be 8)
Most I have seen need a minimum payment of £20, then I could annually on her birthday, put £20 in again, until at 18 she takes it over and puts in her 9% per month (I read that you should pay in a percentage of your week equal to half your age when you start payments...)
Can anyone suggest a good company, who accepts policies for kids?
Does anyone have any alternative suggestions to pensions? I just thought that the money would be 'safe' in the sense she can't draw it all out and blow it when she gets to 18...
Any advice would be welcomed....
I have, this week, opened my daughter her first bank account. I have been considering a stakeholder pension for her birthday present next month (she'll be 8)
Most I have seen need a minimum payment of £20, then I could annually on her birthday, put £20 in again, until at 18 she takes it over and puts in her 9% per month (I read that you should pay in a percentage of your week equal to half your age when you start payments...)
Can anyone suggest a good company, who accepts policies for kids?
Does anyone have any alternative suggestions to pensions? I just thought that the money would be 'safe' in the sense she can't draw it all out and blow it when she gets to 18...
Any advice would be welcomed....
15 crafts for 2015 challenge.
Christmas 2015 - started to save/wrap!
0
Comments
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Hello,
Most personal pensions, including the stakeholder variety allow contributions on behalf of another now.
As to what to go for, tool little to pay for advice fo this in isolation. Suggest you look at two or three perhaps with ethical funds. Uusal suspects Legal and General, Friends Provident, Scot Widows see what floats your boat0
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