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Children's Pension?

(3 Posts)
Mumtumwhatever Sun 21-May-17 07:24:12

What are thoughts on starting a pension (SIIP) for children now?

My ex is doing it for the children (I think for the tax benefit) and my FA suggested it but I'm also concerned about my own pension.

The children are already going to get 4 properties (2 in London) if we popped our cloggs now so I kind of want to prioritise my old age but I'm feeling a bit selfish knowing the benefits to start saving for the children now.

Has anyone else started a child SIIP and how much do you have to contribute?

FurbysMakeSexNoises Mon 29-May-17 11:02:18

I wondered about this but think it's up to the DC to invest for their pension and my hope so that I can set them up to have good financial values and prudence as well as the best start in life.

For me this means a help with (but not entirely giving them) a deposit on a property. Ideally paying for university education if wanted and if we can- so they don't start adult life with debt. After that it's up to them.

dontcallmethatyoucunt Wed 31-May-17 21:56:43

The best gift you can give your kids is to save into your own pension so they won't worry when you are totally potless as a pensioner.

I have clients that save into kids pensions, but that is after their own pensions, their own ISA's, their own general investment accounts, the kids JISA's, their own single premium investment bonds. Kids pensions tend to be for the very wealthy and quite rightly too.

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