Our Stakeholder pension is a simple and tax efficient way of helping to provide for your child’s future. It doesn’t matter if you’re a parent, aunt, uncle or grandparent – anyone can begin putting money aside into a child’s Stakeholder pension. Starting a pension so early gives your child’s pension pot more time to grow and is a great way to help ease concern for your child’s financial future. To find out more please read the
Stakeholder key features (PDF: 1186KB) .
- Our Stakeholder pension plan aims to build up a fund that will provide your child or grandchild with a pension income when they decide to take their benefits.
- You can invest from as little as £20 gross, although the more you put into the pension, the better chance it has of supporting your child in the future. Take a look at our handy children's pension calculator to find out more.
- You can stop, start, increase or decrease regular contributions, and pay in lump sums at any time.
- You can manage your child’s plan online through our secure online service, My Accounts, so you can see how their pension investment fund is performing at any time.
- Our Stakeholder pension application only takes 10-15 minutes to complete.
- The money you pay into the plan is put into one or more investment funds of your choice, with the overall aim of growing your child's pension pot.
- We offer a range of investment funds, so you can choose the type of investment that suits you. Read our funds made clear page for more information.
- If you don’t want to choose the child’s pension fund, we can invest your money into our default option, the Multi-Asset Lifestyle Profile.
- You can also change funds online through our online service, My Accounts.
- Saving in a pension allows you to take advantage of the tax relief offered by the Government – the taxman adds to your child’s pension fund when you do (up to the Annual Allowance). So, for every £200 you pay, £250 is actually invested into your child or grandchild’s pension. (These figures are for basic rate taxpayers – higher and additional rate taxpayers can claim even more tax relief). Please note the maximum contribution into a child's Stakeholder pension is £3,600 gross a year.
- Our Stakeholder pension plan is great value and offers a competitive annual management charge – the rate reduces as your child’s fund grows.
When the child reaches their 18th birthday, they’ll take ownership of the pension plan and will make the decisions on its management.
Take a look at the available pension fund choices, and our charges associated with our Stakeholder pension.
Risks and important information:
- All investments carry an element of risk. Some of the risks are listed below. Please read the
Stakeholder key features (PDF: 1186KB) document for further information.
- The value of the investments that make up your child's pension fund can fall as well as rise, and is not guaranteed.
- The fund or funds you, and in the future, your child choose to invest in will have specific risks. These risks are described in the
Choosing your investment fund (PDF: 166KB) document.
- Any money in your child's pension fund is tied up until they take their benefits, which is generally between age 55 to 99.
- The amount of pension income provided by a pension fund will depend on a number of things, including the amount paid into a pension fund, charges, investment returns and the annuity rates available to buy a pension income when benefits are taken.
- If you decide to cancel within the 30 day cancellation period, any refund may reflect a reduction in investment values. Read more about Your right to change your mind.
- The law and tax rates may change in the future and the value of tax relief will depend on your individual circumstances.
If you apply online through this website the temporary annual management charge, which normally applies to funds of £15,000 and under, won't apply.