A SIPP is a tax-efficient flexible pension that you control.
You receive income tax relief on money put into a pension. Find out more about the tax benefits.
You can open a SIPP on behalf of a child with a Fidelity Junior SIPP as long as they are under 18.
Contributions into a Junior SIPP can be made by anyone.
Even though the child may not be a tax payer they will still receive 20% basic rate tax relief on contributions up to £3,600 per tax year. This is the amount after tax relief is added i.e. £2,880 contribution plus £720 tax relief. No tax relief can be claimed by the person contributing to the Junior SIPP.
Contributions to a Junior SIPP will not affect the allowances of the individuals contributing. Learn more about Junior SIPPs
Take a look at how much you might need when you retire with our easy-to-use retirement calculator.
We’ll then help you figure out a way to achieve that.
Eligibility to invest into a SIPP depends on personal circumstances and all tax rules may change. As this is a pension product you will not normally be able to withdraw money until you reach age 55. Only certain types of pension scheme are eligible for transfer to the Fidelity SIPP. For a full list of which pensions are eligible for transfer visit www.fidelity.co.uk/transfer or call us. Exit fees may be imposed by some non-Fidelity pension schemes and you may lose out on associated benefits if you transfer out of a pension scheme. Fidelity Personal Investing does not give advice, if you are unsure of the suitability of an investment, you should contact an authorised financial adviser.
The value of your investment can go down as well as up so you may get back less than you invested.