No. of Recommendations: 6
1) the performance of all tracker funds should be the same. In practice they are near enough to not worry about. So all you want is lowest cost.
Scroll down - quite a long way - for the actual results.

2) A tracker fund is usually held in either a pension, ISA, or a simple nominee account (which offers no tax protection). So you open the appropriate account, deposit the money and buy your chosen fund. Regular recommendations here: ajbell youinvest for flexible pensions, Halifax sharedealing for ISA or nominee. Or you can buy direct from banks, but the costs are usually Much higher.

Permitted contributions: £15k for a senior ISA, £4K for the junior. Pensions, up to your actual earnings or £3600 regardless. Nominee - unlimited. So for the 17yo (and possibly the others) you may have to split the contributions over 2 financial years.

My opinion: a pension is locked in forever, you can't touch the money until you are 55, that might be what you want. But IMO the time in their life when most people really need and appreciate the money is when they are either at university, or buying their first house. Personally I'd say an ISA is a better choice than a pension, as they have the choice to spend it when they need it. But of course this assumes you can trust them not to blow the lot on a holiday or flash car, and that you haven't already got university and first house covered.

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