Stakeholder pension for child

Diagar

Hi there,
My dad is thinking of investing for his grandson, my son, and is considering a stakeholder pension. He would be investing the maximum amount each year. The one question that we can't find an answer to is that when my son gets older and starts work can he join his company scheme or take out an additional private pension for himself, as well as having this stakeholder pension?
Many thanks Diane

dunstonh

You can have as many pensions as you like.

xylophone

I was Trustee for a minor and part of the provision was a stakeholder pension.

When old enough, he chose to transfer the stakeholder to a SIPP which he has in addition to his employer's scheme and indeed to a deferred pension.

He could have kept the stakeholder and Sipp and employer pension and deferred pension.

There are rules about tax relief and lifetime allowance and pensions.

https://www.gov.uk/tax-on-your-private-pension/overview

Diagar

Great thank you very much for your replies.