Aegon, one of the UK’s largest pension and investment providers, announces the launch of its new Junior Self-invested Personal Pension (SIPP) product. Designed to assist financial advisers in facilitating efficient intergenerational planning by offering a value-driven solution, this solution offers no platform charges until the child turns 18.1
In last year’s Autumn Budget, the Chancellor announced changes scheduled for April 2027, which will bring previously exempt assets, like unused pensions and death benefits, under the scope of IHT.2 Additionally, the IHT nil rate remains frozen at £325,000 until 2030, marking 21 years at the same level. This highlights the growing need for strategic planning in generational wealth transfer.
Aegon’s Junior SIPP equips advisers with a valuable resource to help clients in efficient wealth succession management, with the potential for 20% tax relief on a total contribution of up to £2,880 in the tax year (before tax relief) and long-term investment growth.
Aegon’s continues to be committed to offering diverse investment options suited to the evolving needs of financial advisers and their clients.
Stephen Crosbie, Managing Director – Adviser Platform at Aegon, comments: “The addition of a Junior SIPP demonstrates Aegon’s commitment to delivering value-driven solutions tailored for financial advisers. With upcoming inheritance tax implications for pensions, it’s vital to equip advisers with effective planning tools. This product is crafted to aid advisers in assisting their clients successfully navigate wealth transfer across generations.
“By further enhancing our investment offerings, we are empowering advisers to offer varied choices that align with their clients’ evolving needs. We are dedicated to providing advisers with comprehensive frameworks to navigate complexities, helping them to achieve optimal financial outcomes for their clients.”
For further details about Aegon’s newly introduced features and how they can benefit advisers, please click here.
