JUNIOR SIPP

j_netprofit

Morning all, looking to open two JSIPP accounts for my children. 

They already have a JISA each with HL but Fidelity seem to be the cheapest provider for the JSIPP? Am I right in saying it's completely cost free except of course for any on going fund charge?

I assume they offer a free regular investing option like the HL JISA does? Much like my personal ii SIPP does? I'd likely invest into the same fund as their JISAs (Fidelity Index World Fund).

I currently invest £50 per child per month into their HL JISAs, however still being relatively young I'm trying to maximise what I put away for myself each month. Of course with the simple cost of living that doesn't leave an awful lot in the coffers so I was wondering if there was a minimum limit on the monthly investments with Fidelity.

Any advise warmly welcomed!
Thanks

MX5huggy

Don’t. The only people that should consider this are those that are making use of their own ISA allowances in full every year, the full £9000 JISA allowance and paying the maximum (all income up to £60k) into their own pensions.

j_netprofit

OK...

I've used my personal ISA allowance (16k S&S 4k LT). 

Why is utilising the full JISA allowance first better than the JSIPP?

I understand putting your own lifejacket on first etc but I'm happy to not utilise my full personal 60K pension allowance to give me children leg up.

cloud_dog

jay_ftw said:

Morning all, looking to open two JSIPP accounts for my children. 

They already have a JISA each with HL but Fidelity seem to be the cheapest provider for the JSIPP? Am I right in saying it's completely cost free except of course for any on going fund charge?

I assume they offer a free regular investing option like the HL JISA does? Much like my personal ii SIPP does? I'd likely invest into the same fund as their JISAs (Fidelity Index World Fund).

I currently invest £50 per child per month into their HL JISAs, however still being relatively young I'm trying to maximise what I put away for myself each month. Of course with the simple cost of living that doesn't leave an awful lot in the coffers so I was wondering if there was a minimum limit on the monthly investments with Fidelity.

Any advise warmly welcomed!
Thanks

Net contribution of £20pm.

j_netprofit

Cheers @cloud_dog

Do you know if it's free to regularly invest into funds?

Marcon

jay_ftw said:

Cheers @cloud_dog

Do you know if it's free to regularly invest into funds?

See https://www.fidelity.co.uk/junior-sipp/fees-and-charges/

j_netprofit

Marcon said:

jay_ftw said:

Cheers @cloud_dog

Do you know if it's free to regularly invest into funds?

See https://www.fidelity.co.uk/junior-sipp/fees-and-charges/

You're gonna have to point it out for me mate, already have that tab open but can't see a mention of it which is why I asked 

👍

Albermarle

jay_ftw said:

OK...

I've used my personal ISA allowance (16k S&S 4k LT). 

Why is utilising the full JISA allowance first better than the JSIPP?

I understand putting your own lifejacket on first etc but I'm happy to not utilise my full personal 60K pension allowance to give me children leg up.

The issue is that by the time your children see the benefit of the JSIPP, they will not be children anymore ! 
They will probably appreciate money at 18 with the JISA more.

22225

But they may not be responsible with money at 18. Hopefully at 60 they may have more wisdom.

cloud_dog

jay_ftw said:

Marcon said:

jay_ftw said:

Cheers @cloud_dog

Do you know if it's free to regularly invest into funds?

See https://www.fidelity.co.uk/junior-sipp/fees-and-charges/

You're gonna have to point it out for me mate, already have that tab open but can't see a mention of it which is why I asked 

👍

OEICs (funds) do not incur a transaction fee.

ader42

I concur with OP. I save the maximum into my son’s JSIPP with HL as I want him to have a pot in his 50s, and the Tax Relief is a no-brainer.
I will also be filling his LISA each year from the age of 18.