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Straightforward Children's Pension

With our straightforward approach it's easy to set up and manage a children's pension. You choose how much and how often to invest, we do the rest.

EligibilityYou must be over 18 and be the child's legal guardian. Both you and the child must be UK residents.
Access to pension potWhen your child reaches age 55
Minimum balance£1
Tax reliefContributions of up to £2,880 per year are automatically topped up by 25% Show tax relief help - link opens in a new window
Close tax relief help window  You can open a pension for each of your children, and for each child you can save up to £2,880 tax efficiently per year.

The government will automatically top up the pension pot by 25% (e.g. turning £2,880 into £3,600). Contributions over £2,880 are allowed but receive no tax refund.

Contributions into a child's pension has no impact on your tax status. If your child has their own relevant UK earnings then they may be able to receive a tax refund on higher amounts.

Speak to us for details if this applies to you.
Regular paymentsStart and stop your payments or change your payment amount whenever you need to.

This may reduce the amount your child gets back from their pension.
Can relatives contribute? (e.g. grandparents)Yes
Annual management chargeOngoing charge of 0.60% of the value of your fund
Other feesNone
Service24/7 online access and UK-based call centres
FSCS protectionUp to £85,000 of your pension is protected by the Link opens in a new window FSCS

Please bear in mind, the value of your investment can go down as well as up and your child may get back less than you invest. Tax benefits depend on individual circumstances and may change in the future. The earliest your child can access their pension savings is normally their 55th birthday. If you stop or reduce your payments you will reduce the amount your child gets back from the pension.

You do not have the right to cancel stock market based investments like the Virgin Stakeholder Pension that are sold over the phone or online.

Apply for a children's pension

You'll need your:

  • Your child's National Insurance number (if they are over 16).
  • Bank details (for regular payments) or your debit card details (for lump sum payments).

Please ensure you see the Key Features and Terms and Conditions(PDF, 597KB)  Link opens in a new window

If you're not sure about applying, you should seek independent advice. Link opens in a new windowFind a financial adviser in your area.

*If you would like to make a one-off payment using a Maestro card issued outside the UK, please call us on 03456 10 20 40.

If you would like to talk to us, just give us a call.

03456 10 20 40

We're here from 8am to 9pm Monday to Friday, 9am to 6pm Saturday.
Sorry, we're not open on bank holidays.