Are there any SIPPs that allow you to start with £25 a month and allow for higher contribution later if desired?
28 September 2021
Question by Tim
Hi, I have two adult working children aged 25 and 30. They pay standard tax. I would at this early age like to pay £25 -30 a month into a SIPP for each and just keep doing this for years. Perhaps in time they could increase what's put in monthly. Which companies will allow you to start from say £25 a month and keep going, but allow a higher contribution if desired. No no lump sum, just £25 a month of course in their names but paid by me to them. Most providers seem to want £50 a month at least or a lump sum. Any ideas?
Answered by Joshua Gerstler
That is a lovely gift and something they will appreciate when they get to retirement age.
At the moment I tend to use the Advance by Embark platform and they have not set a minimum monthly contribution limit for us.
I hope that helps!
Feel free to get in touch if you need any help.