Aegon has launched a new junior self-invested personal pension (SIPP) aimed at helping advisers with intergenerational wealth planning.
The product has no platform charges until the child turns 18.
Following last year’s Autumn Budget, changes from April 2027 will bring unused pensions and death benefits under inheritance tax (IHT).
The IHT nil rate band remains frozen at £325,000 until 2030, which has increased demand for strategic planning around generational wealth transfer.
The junior SIPP allows up to £2,880 to be contributed each tax year before tax relief, with potential for 20% tax relief and long-term investment growth.
The product offers a range of investment options for advisers and their clients.
Stephen Crosbie, managing director – adviser platform at Aegon, said: “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.”
Crosbie added: “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.”