Quantcast

Which pensions with low charges would you recommend?

Anita | West Sussex| 18/06/2018 | 3

  • Private Pension
  • Junior ISA

Anita's question in full

Hello Are there any specific pensions you would recommend, with low charges, which I can set up for my 11 yr old son? I am already paying the maximum into a Junior ISA. Anita

Richard Allum's Response

Investing money into a pension for a child has its pros and cons. There is tax relief to be had, the power of compounding over time is massive and it gives them a good financial foundation in the future. But, that future is likely to be at least 50 years away for your son. That may be a good thing but could he benefit from accessing that money earlier in life?

Putting that to one side, I’d suggest speaking with your Junior ISA provider as they may also have a pension option. This would allow you to keep things simple and there may be discounts available. Other than that, have a look at our Best Buys page and guide for our top picks.

Thanks,
Richard

Read more

 

 

Just be aware...

We are not regulated to give personal financial advice - This isn’t full-fat regulated financial advice. Boring Money is a publisher and not regulated by the FCA. 

This means we can't help with specific personal circumstances or recommend specific investment products. It also basically means that if we say something daft, you have no recourse to come back and complain.

We’re only allowed to give you a steer or share an opinion or tell you the facts - That said, we promise that our answer to you is an independent unbiased perspective with no commercial gain to make. If you need regulated financial advice, you can find a good adviser via sites such as Unbiased & Vouchedfor.

Our Expert

richard allum.jpg

Richard Allum

Related Questions

Got a Question?

Got a question? Ask our experts

Ask Our Experts

Sign up for Holly's blog

Stay up to date

Our free weekly blog with Holly's
no-nonsense opinions, tips & food for thought.
If you change your mind, you can unsubscribe at any time.