Junior SIPP
Invest up to £3,600 free from UK tax into your child's pension
Invest up to £3,600 free from UK tax into your child's pension
Open a Junior SIPP Transfer a child's pension Top up a Junior SIPP
Invest up to £3,600 free from UK tax into your child's pension
Important information - A Junior SIPP is a type of pension for parents and guardians happy to make investment decisions on their child’s behalf and isn’t usually accessible until age 55 (which will rise before the child reaches retirement). Pension and tax rules can change, and benefits depend on individual circumstances. If you’re transferring a child’s pension, check fees first and make sure they won’t lose any valuable guarantees or benefits. If you’re not sure if an investment is right for a child, please seek financial advice. Remember investments can go down in value as well as up, so the child could get back less than invested.
A head start for a child
Do you wish you’d started saving into a pension earlier? A Junior Self-Invested Personal Pension (SIPP) could give a child a significant head start in saving for their future.
A Junior SIPP is the same as a regular SIPP – the difference is that a parent or legal guardian manages the account, and makes any investment decisions, until the child turns 18.
The money in a SIPP cannot be accessed until age 55 (and will rise before the child reaches retirement). This means the money in a Junior SIPP has lots of time to potentially grow.
Why invest in a Junior SIPP?
- Help a child live comfortably in retirement. Pay in up to £2,880 each tax year for the child’s future and get a 20% automatic boost from the government.
- Investments in a pension are free from UK income and capital gains taxes. Remember tax rules can change and benefits depend on personal circumstances.
- Gifts to a child’s pension are often covered by one of the inheritance tax exemptions and so could fall outside your estate for inheritance tax purposes.
Investments can go down in value as well as up, so your child could get back less than invested.
Junior SIPP charges
The annual charge for holding investments in an HL Junior SIPP is never more than 0.45%.
Your dealing and other charges will depend on the investments you choose.
How to open an HL Junior SIPP
To open a Junior SIPP, a parent or legal guardian will need to complete an application form on a child’s behalf. If the child is over 16 they will need to sign the application. You’ll also need to complete a Legal Guardian form.
Start with a payment
Set up a direct debit from as little as £25 a month, or make one-off payments of £100 or more.
You’ll always have the flexibility to stop or pause payments whenever you want.
Transfer an existing child’s pension
To open a Junior SIPP, you can transfer a child’s pension from another provider.
How to top up an HL Junior SIPP
Anyone can add money to an HL Junior SIPP once it has been opened. To set up or amend a direct debit, or make a one-off lump sum payment, call our Helpdesk or send us a secure message.
Why choose an HL Junior SIPP?
- Flexible payments - Monthly direct debits from as little as £25 a month, with the ability to pause or cancel payments if you ever need to.
- Invest where and how you want to - You can pick your own investments, select one of our ready-made portfolios, or pay a financial adviser to choose investments for you.
- An easy-to-manage account - See your family’s investments at a glance online or with the HL app.
- Link your family's accounts - With our linked accounts feature, you can view and manage your family's HL accounts from your own login.
See why Alan chose an HL Junior SIPP
My children are 14 and 17 and they’ve both got Junior SIPPs with HL. I started investing for them in 2011 and I saved the maximum into their accounts each year. It’s a really good way for me to future proof their future.
Alan uses our tools and research to help him manage his families HL accounts.
Alan uses our tools and research to help him manage his families HL accounts.
Investment ideas
With a Junior SIPP, you control where it's invested and can choose from a wide range of funds to match your values and goals, as well as UK and overseas shares, investment trusts and more.
To get you started, we've put together a selection of investment ideas.
Pension essentials
Are you ever too young to have a pension?
Discover how a £100 gross investment each month, for 18 years, could mean a child ends up with a pension worth over £140,000 by age 60.
Minimising tax with a Junior SIPP
Investing for a child can help a child secure a brighter financial future. Plus, it could help you and the child save tax too.
Junior SIPP calculator
Find out how much a child’s pension could be worth in later life.
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Help and support
If you have any questions about pensions, you can speak to one of our UK-based client support experts.
Call us on 0117 980 9926
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