FOI REF: FOI/2023/4873
You asked
I understand you hold data relating to junior pension wealth in the UK. This may be filed on your system as "child pensions" or "Junior SIPPs" or "children's pensions".
My expectation is that they will have their own classification separate from other pensions because the annual allowance is significantly different (regular pension £40,000 v £3,600 junior pension).
How many Junior Pension Holders are there nationally?
Are you able to offer a breakdown of numbers by wealth bracket? Perhaps the following brackets are most compelling:
- £0-£9,999
- £10,000-£19,999
- £20,000-£29,999
- £30,000-£39,999
- £40,000-£49,999
- £50,000-£59,999
- £60,000-£69,999
- £70,000-£79,999
- £80,000-£89,999
- £90,000-£99,999
- £100,000-£109,999
- £110,000-£119,999
- £120,000-£129,999
- £130,000-£139,999
- £140,000-£149,999
- £150,000-£159,999
- £160,000-£169,999
- £170,000-£179,999
- £180,000-£189,999
- £190,000-£199,999
- £200,000+
Are you able to offer a mean or average value for child pension pots?
What year were child pensions first introduced?
We said
Thank you for your enquiry,
Unfortunately, we do not hold information about Junior Pensions.
HMRC published the following report, which may be useful: Commentary for Annual savings statistics: June 2021 - GOV.UK (www.gov.uk). Section 2 relates to Child Trust Funds. We would suggest that the HMRC may be better placed to assist with your enquiry. Their freedom of information team can be contacted at foi.request@hmrc.gov.uk