Opening a Barclays Stockbrokers SIPP for a child
An invested pension could be one of the most valuable gifts a child ever gets – one that provides years of financial benefit.
All UK residents, including children, get favourable tax treatment on pension contributions. And you can make pension contributions for a child. With a Barclays Stockbrokers SIPP you can manage how the child’s pension is invested too. This way, you build a potentially very valuable fund for when the child grows up and retires in many years to come.
Our Child SIPP is a tax-efficient way of saving. Here are the key features:
There’s more. Child pensions benefit from the same advantages as adult pensions. This means that no tax is payable on income from investments or capital growth in the Child SIPP provided the usual limits (Annual and Lifetime allowances) are satisfied.
Contributions from others
Other people can help too. Anyone can contribute to a Child SIPP and receive tax relief.
It’s important to remember that the funds are locked away for the long-term. You should be experienced in and comfortable with making your own investment decisions.
The value of investments can fall as well as rise. When it comes to taking benefits, the pension fund could be worth less than you contributed. The tax rules mentioned above apply right now. They can change in the future.
If you’re unsure about the suitability of these arrangements, we recommend that you seek independent advice.