• Pensions
  • Open a Junior SIPP

Junior SIPP

A Junior SIPP is a tax efficient way to save for your child's future.

Start investing now to make a huge difference

Start investing now make a huge diffference

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Tax rules and reliefs are likely to change between now and a child’s retirement, the eligibility to invest in a pension will depend on personal circumstances. The amount you might get back at 65 is only a projection, it's not guaranteed. Please remember, how your investments perform and the charges may affect the value of your investments and you may not get back the amount you invested.

Why Junior SIPP?




Tax relief on contributions

The child’s account will receive 20% basic rate tax relief on all contributions



Potentially reduce liability to inheritance tax

Parents can use their two £3,000 annual gift allowances, which would cover the maximum annual pension contribution of £2,880 for each of two children.



They can't waste the money

As pensions generally cannot be accessed until age 55, you can be assured the money will be used to provide for the child's retirement.



How to open a Fidelity Junior SIPP

Fidelity Junior SIPP must be opened by a child’s parent or guardian. The account is held in the child’s name and the child must be under the age of 18.

Once the account has been set up, grandparents and other family members can also make contributions up to the £3,600 annual limit.

Contributions to a Junior SIPP are considered personal contributions to the child. They will not affect the personal allowances of the person contributing unless they contribute more than the annual allowance or continue to contribute once the child has turned 18.

Even though the child is a non tax payer they will still receive full basic rate tax relief on personal contributions, up to £3,600 per tax year. No further tax relief can be claimed by the person contributing to the Junior SIPP.

Minimum contributions

  • Single contribution: £1,000
  • Regular savings: £100 a month

Maximum contributions

  • £3,600 per year. But the government will pay £720 of it as tax relief

After receiving your application

Once we have received your application and opened your child's SIPP account, we will send you a welcome pack that explains how to manage their SIPP and make changes to their investments.

What happens at age 18?

The Junior SIPP account automatically becomes the Fidelity SIPP and transfers to the child at age 18 when they can start making their own contributions. If no further contributions are made the account should be reviewed regularly to ensure that the underlying funds are performing well. If they are not any annual fund management charges may erode the value of the SIPP over the long term. We'll write to the parent/guardian and the child to confirm the changes to the account.

Our UK-based Fidelity Personal Investing Team may call you to help you with any queries you may have concerning this process.

Retirement calculator

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