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Saving for children

Give your children and grandchildren a solid financial footing

Give your children and grandchildren a solid financial footing

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Saving for children

There are lots of ways you can give your children and grandchildren a solid financial footing when they become adults. Our advisers are here to help you work out how you can save for your family’s future.

Junior ISA

Junior ISA

A Junior ISA (JISA) offers the same benefits as a regular ISA, just with a lower limit for how much can be paid in each year. Cash savings accounts or stocks and shares accounts are both available, allowing you to invest on your children's behalf.

Junior Pension

While it may not be the most obvious choice, you can also set up a pension for your children or grandchildren to save for them tax-efficiently with your contributions topped up by government tax relief. The fund will transfer to them when they turn 18 but they won’t be able to access the money until they’re much older giving the fund decades to grow.

Junior ISA

A Junior ISA (JISA) offers the same benefits as a regular ISA, just with a lower limit for how much can be paid in each year. Cash savings accounts or stocks and shares accounts are both available, allowing you to invest on your children's behalf.

While it may not be the most obvious choice, you can also set up a pension for your children or grandchildren to save for them tax-efficiently with your contributions topped up by government tax relief. The fund will transfer to them when they turn 18 but they won’t be able to access the money until they’re much older giving the fund decades to grow.

Investment caveat

An ISA is a medium to long-term investment, which aims to increase the value of the money you invest for growth or income or both.

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.