Childrens account - ideas on what to put where

FatherAbraham

Squids_in wrote: »

Do you mean expensive in terms of annual charges?

Yes.

SIPPs are costlier to provide because they offer more investment opportunities. For small pension funds, with simple investment needs (a couple of trackers), personal pension are usually cheaper and simpler to run.

More info available here (SIPPs) https://www.moneysavingexpert.com/savings/cheap-sipps/ and here (cheap personal pensions) https://www.moneysavingexpert.com/savings/discount-pensions/.

golly99

Hi just to address some of the points above Coventry was at 3% for the family saver but then the product wasn't available for our 2nd child so that ended up going into a seperate account until I decided where it was going to go.

When our 1st child money is moved from that savings account the intention was to always address the difference in funds - obviously with the age difference he will have more and he's had money paid in for other reasons before the 2nd child wasn't born. Will have a read up of some funds and maximise their stocks and shares isa - anything left i'll put a monthy saver until the next isa year. Many thanks