Stakeholder pension for my new kid?

cheggers

I am thinking about starting a stakeholder pension for my new baby, may be putting a side £5-10 a month, only the same as a few less pints after work on a pay day now the nipper has arrived.

Which firms are good for stakeholder pensions for kids?

I've already got a Standard Life stakeholder for myself.

Has anyone else opened one for there kids?

Rikki

I thought you had to be of tax payer age to have a pension. Maybe wrong.
Whats wrong with the childrens trust funds that are avaliable.

dunstonh

Which firms are good for stakeholder pensions for kids?

With 50-60 years to invest for, you will no doubt be picking some medium/high risk funds so you just need a provider that gives a wide range of funds.

Has anyone else opened one for there kids?

Done a few in the past but most people should be more concerned about their own planning than their children. Especially where the children are likely to benefit from inheritances at some point.

I thought you had to be of tax payer age to have a pension. Maybe wrong.

You can be a non taxpayer, lower rate, basic rate or higher rate to pay into a pension. You can have one from the day you are born (with parent/guardian being signatory).

EdInvestor

Non tax payers can get tax relief on a pension up to 3,600 FWIW.

Frankly, if I was the kid, I'd prefer an ISA which I could access to help pay for things like university fees or a deposit on a house, rather than wait till I was 55 for the pension. :rolleyes:

Rikki

You can't have an ISA until you are sixteen, eighteen with some companies.