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Best pension for my son, advice please?
Costy
Posts: 27 Forumite
My son is a high function autistic, and like any parent of any special needs child, I worry like hell what will happen to him when I'm gone, so I am doing my best to try and instill some financial planning into him.
We have set him up with a pet sitting business (he has a level 3 NVQ in animal care, and full insurance), and it is doing very well. So, he is now self employed, 22 years old and I would like him to start paying into a pension (for my own peace of mind as well as his!). I understand that he will need a stakeholder pension, as there is a likelihood that he will not be working all the time, and may need the flexibility, but how on earth do you choose?
Help please?
We have set him up with a pet sitting business (he has a level 3 NVQ in animal care, and full insurance), and it is doing very well. So, he is now self employed, 22 years old and I would like him to start paying into a pension (for my own peace of mind as well as his!). I understand that he will need a stakeholder pension, as there is a likelihood that he will not be working all the time, and may need the flexibility, but how on earth do you choose?
Help please?
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Brilliant, thank you!0
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I understand that he will need a stakeholder pension, as there is a likelihood that he will not be working all the time, and may need the flexibility, but how on earth do you choose?
There are not many stakeholder pensions left nowadays as they are largely a niche option as personal pensions and SIPPs have overtaken them. However, it does sound like your son fits the niche.
So, picking from the ones available should be relatively easy as there are so few differences between them as they have to comply with stakeholder rules.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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