Junior pension
Gcartme
Forumite Posts: 1 Newbie
I have been paying in to a stakeholder pension for my granddaughter for 14 years. Can I transfer it into an ISA or something similar?
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Comments
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No, once in a pension it has stay to as a pension until she can start to withdraw it in 40+ years.0
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There is no such thing as a junior pension. All pensions, regardless of age, fall under the same rules. And that applies to access too.Gcartme said:I have been paying in to a stakeholder pension for my granddaughter for 14 years. Can I transfer it into an ISA or something similar?
ISAs and pensions can share identical investments. So, if your reason for asking is due to investments, then you can move the pension (or the parent/guardian can).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.1 -
This is why pensions for children should always be seen as the very last consideration after all earlier term requirements have been addressed.Gcartme said:I have been paying in to a stakeholder pension for my granddaughter for 14 years. Can I transfer it into an ISA or something similar?Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0
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