Inheritance advice - £350k

Viking_mfw

I would consider opening JSIPPs for your children. Put the full allowance (just less than 3k) each in for a couple of years and then just leave it to compound. 

wjr4

Viking_mfw said:

I would consider opening JSIPPs for your children. Put the full allowance (just less than 3k) each in for a couple of years and then just leave it to compound. 

There’s no such thing as a Junior SIPP. 

Dazed_and_C0nfused

wjr4 said:

Viking_mfw said:

I would consider opening JSIPPs for your children. Put the full allowance (just less than 3k) each in for a couple of years and then just leave it to compound. 

There’s no such thing as a Junior SIPP. 

True.  But it seems to be a commonly used marketing phrase.  Which means some people think it is a thing.

https://www.ajbell.co.uk/pensions/junior-sipp

Albermarle

Dazed_and_C0nfused said:

wjr4 said:

Viking_mfw said:

I would consider opening JSIPPs for your children. Put the full allowance (just less than 3k) each in for a couple of years and then just leave it to compound. 

There’s no such thing as a Junior SIPP. 

True.  But it seems to be a commonly used marketing phrase.  Which means some people think it is a thing.

https://www.ajbell.co.uk/pensions/junior-sipp

Whatever it is called the main issue is that the child can not access the money for 40 or 50 years.
There are differing opinions therefore on whether it is a good idea or not.