Helping grown up children with pensions.

I’ve got to agree with Hithere and ask why your sons haven’t organised pensions or investments themselves? Are their businesses very profitable and they intend to take an income from it for life, even if it’s passed onto the next generation? Perhaps they have substantial savings and their wives have employment that will provide good pensions? I Are their families aware of the situation? I think I’d advise your sons to book an appointment with an IFA - (Independent Financial Advisor) to give them some ideas of how how much they should be saving to provide a decent pension. You could go along to make notes, if you think they’d be overwhelmed by figures - but they must be ‘clued up’ to be self-employed and doing annual HMRC returns. I’d also be careful not to overstep the mark and be seen as meddling.

Unless the rules change, IMO stocks and shares ISAs are a very good investment - the income is tax free.
We have put a lot into those over the years.

Financially- not financial

Teach them to fish, do not give them the fish - financial wise speaking

Are they interested in investing?
There are other ways to save/pension wise apart from investing

What do they think about their financial situation?

There is a fine line between helping and meddling - this might be crossing it if investing is not what they want

The Saga website has very good advice re gifting money to ‘children’ and the tax implications. It might be worth a read.

There are a few pitfalls that you might need to be aware of.