SIPP for one year old daughter?

buel10

dunstonh wrote: »

I nearly always use a stakeholder pension for child/grandchild pensions. The thought of an 18 year old getting access to a SIPP and all the things you can do wrong with it does not appeal. You really cant do much wrong with a stakeholder as the provider funds are all mainstream.

Wow - I didn't know that they could have access to it at 18? I take it you mean the ability to choose funds, etc, not withdraw?

dunstonh

buel10 wrote: »

Wow - I didn't know that they could have access to it at 18? I take it you mean the ability to choose funds, etc, not withdraw?

The pension becomes theirs at 18 and access meant the ability to invest it in non-mainstream an unregulated investments. Young and naive open to get rich schemes etc

Alexland

buel10 wrote: »

Wow - I didn't know that they could have access to it at 18? I take it you mean the ability to choose funds, etc, not withdraw?

Yes access to invest in wacky thematic investments, to not pay their platform fees charges or just sit in cash letting inflation do it's evil work. If you really must do a pension then a Stakeholder is probably the least worst option. Add £16 a month and the government add £4 and then it will get taxed later.

Alex

buel10

Thanks for that.
Where to start to choose one? An IFA?

Alexland

buel10 wrote: »

Thanks for that.
Where to start to choose one? An IFA?

Cavendish will set one up for a small one off fee:

https://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/aviva/

buel10

Thank you so much for that. Unfortunately, they state:
Regular monthly gross contribution of £50 (£40 net).

craig1912

No they state £20pm

Minimum regular monthly contribution of £20 required AND / OR a minimum transfer or lump sum of £20.

Think you were looking under the wrong section. All details are here

https://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/aviva/

Alexland

My wife has the Aviva stakeholder and as she makes her main contribution via her workplace scheme we just contribute the £16+4 per month to keep the DD active.

buel10

craig1912 wrote: »

No they state £20pm

Minimum regular monthly contribution of £20 required AND / OR a minimum transfer or lump sum of £20.

Think you were looking under the wrong section. All details are here

https://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/aviva/

Wonderful, thank you so much!!

buel10

On the application form for the Aviva stakeholder pension, it asks for the client signature....my daughter is 17 months old, what do I do here, please?