Junior SIPP Top up
Anyone can top up a child’s Junior SIPP. This can be done online by debit card as a lump sum or monthly by direct debit, by bank transfer, or by sending us a cheque. An HL Junior SIPP account will need to be opened by the parent or legal guardian before you can top up.
Please note: if an existing direct debit instruction exists on the account, this will automatically be replaced with any new instruction received from the same third party. Where an instruction is received from a different third party, we will seek confirmation from the registered contact before replacing the instruction.
What you need to remember
The HL SIPP is designed for people comfortable choosing their own investments (although we do offer a Ready-Made Pension Plan – see below). The value of all investments can rise and fall, so although there’s the potential for growth, your child could also get back less than is invested. If you’re not sure which investments are appropriate, please ask us about financial advice. There’s no personal advice on our website.
Once in a pension, your child’s money is not usually accessible until at least age 55 (rising to 57 from 2028). Pension and tax rules can change, and benefits will depend on individual circumstances.
Up to £3,600 can normally be paid into a child's Junior SIPP each tax year (including tax relief received from the government). This means that up to £2,880 can usually be paid into a Junior SIPP, and 20% basic-rate tax relief (£720) received.
What you need to read first
How do you plan to invest in your pension?
If you're confident with investing, then then you can choose your own investments by logging in to your account.
If you're not sure where to invest, we've designed the HL Ready-Made Pension Plan (RMPP) to get you started.
Ready-Made Pension Plan
Think about the plan if you:
are not sure where to invest
want experts to make the day-to-day decisions
are comfortable with medium-high investment risk to grow your pension pot
want us to lower the risk for you as you get close to retirement age
have time to check your investments only now and then
Consider other options if you:
want control over the investments you choose
want a plan that is tailored to your needs and goals
don't want the value of your investment to go up and down
How the plan works
We aim to grow your pension pot in the earlier years by using medium-high risk investments.
Then we aim to reduce the impact of stock market falls on your pension pot by gradually switching the plan to lower-risk investments. We start this 8 years before your chosen retirement age, though it can still fall in value.
For example:
Your chosen retirement age: 74
Age that de-risking will start: 66
How to invest in the RMPP
To select your investments, log in online to see your account.
Select 'Deal now' in the list of actions for the Junior SIPP.
The ‘HL Ready-Made Pension Plan’ will appear as an option on this page.
Select ‘View plan’ to continue with an ‘HL Ready-Made Pension Plan’ investment.
Read the charges and Key Investor Information, and, if you’re a US Person or resident or ordinarily resident in the Republic of Ireland for tax purposes, HL’s dealing terms.
Enter the amount you wish to invest and select 'Continue'.
Check the details, including the stock, type of deal and value of the trade.
Select ‘Place a deal now’ to confirm your trade.
Top up by debit card or direct debit
This can be done online in minutes by using a debit card with a one-off payment of £100 or more, or choose to pay monthly via direct debit starting at £25 per month.
How to top up by bank transfer
First, please send a secure message through your online HL account with the following details:
The full name and address of the child whose SIPP you’d like to make a payment to, and their HL client number if you have it.
Your payment amount.
Your full name and address, stating that you understand that the payment is a gift and that you won’t have any further claim on the money in the future.
If this should be treated as an employer contribution, please also confirm this in your secure message. Otherwise this payment will be treated as a personal contribution (and we will claim tax relief, which will be paid into the SIPP on top of your contribution).
Next, make your payment using the following details:
Bank Account Number: 03310401
Sort Code: 30-92-13
Account Name: The child's full name
Reference: The child’s client number (e.g. 123456)
If you do not have an HL account with online access please contact our Helpdesk on 0117 980 9897.
How to top up by cheque
To top up by cheque, complete the application form below and return it to our freepost address: Freepost HARGREAVES LANSDOWN.
Complete sections 3 or 4 (depending if you’re the registered contact).
Please enclose your signed cheque, made payable to: HL SIPP/'the child's initials and surname'.
Please also include both your and the child’s details on the back of the cheque.
If you have any questions about a Junior SIPP, call our Helpdesk on 0117 980 9926, we'll be happy to help.