Junior SIPP who and how to pick

SomeMadeUpName

Just become aware of the fact that you can open a pension for your child. I have no idea how to pick a Junior SIPP. The company I recently picked for myself and my wife (Vanguard) do not offer the Junior SIPP.

So parameters are that my child is 14, turning 15 early in the next tax year. If I do it I would open it now and divert some of their savings (£2880pa for 4 years) into the SIPP. They'ld then be 18 and I would open them a LISA and going forward funds would go there (as they move through education) in priority as that is more flexible in terms of using as a house deposit. So the SIPP might well sit at £15k (plus growth) for some years, though I would hope its very existence would mean they might make small contrib in early working life, but by then it would be up to them, their decision.
So anyone any experience in where to put a relatively small fund for a pretty passive investor? I would want somewhere for them that didn't eat up the pot in charges, but which offered an investment choice that was 'risky' enough given the 40-50 years it has to grow. I think I would want somewhere where you just put the money in a fund, with a given risk profile, and then just ignored it and got on with life.

Oh, and any criticism of the plan in general?

And clearly if I'm doing it I need to get a wiggle on for 20/21.

dunstonh

I have no idea how to pick a Junior SIPP.

There is no such thing as a Junior SIPP unless you are referring to marketing from a certain provider.  Children can pay into virtually every retail pension available.

So anyone any experience in where to put a relatively small fund for a pretty passive investor?

Pretty much most providers match that criteria.

 I would want somewhere for them that didn't eat up the pot in charges

That hasn't been an issue for the last 20 years.

I think I would want somewhere where you just put the money in a fund, with a given risk profile, and then just ignored it and got on with life.

You are probably referring to a global tracker then.

Oh, and any criticism of the plan in general?

There will be from those that dont think you should plan that far ahead for your children but plenty do it.

And clearly if I'm doing it I need to get a wiggle on for 20/21.

Just over a week left.

jem16

SomeMadeUpName said:

So anyone any experience in where to put a relatively small fund for a pretty passive investor? I would want somewhere for them that didn't eat up the pot in charges, but which offered an investment choice that was 'risky' enough given the 40-50 years it has to grow. 

No experience but I've read that Fidelity offer a Junior SIPP with no service fee for the platform. You should have a big enough choice on funds there.

https://www.fidelity.co.uk/junior-sipp/#tab-link

Albermarle

Yes Fidelity waive the usual platform charge for 'Juniors' 

Ciprico

....you weren't getting confused with a junior isa, JISA?

SomeMadeUpName

Thx all for the feedback.

Couple of mentions for Fidelity, I had seen that one and very interested, tried to call them yesterday but it was 4.31pm when I tried! Will call them once open today.

Interested in the observation that a Junior Sipp is only a marketing angle. So all SIPP's are available, it's just that some companies market as Junior (and maybe tag on a benefit, like Fidelity's platform fee waiver) this is born out by the fact that when you follow links to Fidelities Junior SIPP it circles you back to the regular product.

Vanguard's Q&A says they don't offer a Junior SIPP, but if all that means is that they don't market as such, and that their SIPP is still available to anyone I may go there. Much like the process of picking platforms for myself and the wife the logic would be ease of monitoring and the fact that with no outward transfer fee we could always change later.

Thank you once more

SomeMadeUpName

MFW2026 said:

Yes I’ve just opened junior SIPPs with fidelity and no platform charges 

Hi, how quick was the process?

SomeMadeUpName

Vanguard is out, just got this off their T&C's:

"Who can open an account? The Vanguard Personal Pension is available to individual applicants aged 18 or over who reside in the UK and pay tax in the UK. The Vanguard Personal Pension is not available to US persons. You must have a UK bank account in order to make Contributions to, or receive Benefits from, your Vanguard Personal Pension. Joint named accounts are not permitted."

So now I'll pin hopes on Fidelity.

cloud_dog

I don't think you have to hope, to be honest, you just open an account with them.

Albermarle

Couple of mentions for Fidelity, I had seen that one and very interested, tried to call them yesterday but it was 4.31pm when I tried! Will call them once open today.

I would not bother calling them , they tend to be quite busy at this time of year.

Just open them on line .

dunstonh

Fidelity have already issued a warning about delays on certain transactions that may not get completed this year.  The only platform to have done so I believe.   So, if you use them, you need to be quick.

Vanguard is out, just got this off their T&C's:

Vanguard's pension is newly coded and not fully functional yet.  So, that could be the reason why they dont do it.     As I said, most individual retail pensions do offer their product to minors.

Interested in the observation that a Junior Sipp is only a marketing angle. So all SIPP's are available, it's just that some companies market as Junior (and maybe tag on a benefit, like Fidelity's platform fee waiver) this is born out by the fact that when you follow links to Fidelities Junior SIPP it circles you back to the regular product.

And the marketing works.  The fact you were drawn to Fidelity shows it along with the other times we have seen people mention Junior SIPP and Fidelity pops up.   A bit like a certain other platform that used to say it was a low cost SIPP but was actually one of the more expensive ones.  Yet people believed it was low cost.