Stakeholder pension for children.

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.

APPLY ONLINE - 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.

Simple

• Our Stakeholder pension plan aims to build up a fund that’ll 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.

Choice

• 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 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 in our default fund, the UK Equity Index Lifestyle Profile.
• You can also change funds online through our online service, My Accounts.

Value

• 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).
• 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 18^th birthday, they’ll take ownership of the pension plan and will make the decisions around its management.

Take a look at the available pension fund choices, our charges and the risks associated with our Stakeholder pension.                                   

Please remember the following:

• The value of the units that make up your child or grandchild's fund can fall as well as rise, so the value of their fund is not guaranteed.
• Your money is tied up until your child or grandchild takes their benefits.