We are experienced Administrators of and Trustees for Small Self Administered Pension Schemes (SSAS).
Small Self Administered Pension Schemes (SSASs) have been one of the best kept secrets of the pensions industry for more than 40 years – you can find out more about SSASs in our question and answer section.
But despite their low profile SSASs have quietly grown to become a major force in private sector pensions, not least because of the tax advantages they have and the control they offer.
Our experienced team here at Pensions Management has provided administration, trusteeship and practitioner services for hundreds of SSASs for over 40 years. You can read some of our case studies here.
SASSs are Director Pensions rethought. A Small Self Administered Pension Scheme is an HMRC approved Occupational Pension Scheme. Like any Occupational Pension Scheme, a SSAS is a means of investing both for retirement and for the future – with availability being limited to those who run their own companies. Some of the key components of a SSAS are:
As a qualifying Occupational Pension Scheme, a SSAS pension enjoys all of the tax advantages of Approved Pension Schemes. These include:
The total member control of scheme assets results from HMRC’s requirement of the personal trusteeship of every scheme member. This equivalence of member trustee responsibility gains the right for members to retain complete control of their scheme funds.
When the Directors of a company establish a SSAS they are entitled to extend member participation to up to 11 employees. Membership also carries trusteeship – ensuring that scheme control rests entirely with the scheme members. This collective responsibility enables members to make group investment decisions with the entirety of their scheme funds – or to take individual investment routes with each separately identified scheme member account.
In practice membership of a SSAS is normally limited to the controlling Directors of the sponsoring company and their families – so enabling them to combine decisions upon company contributions, member trustee investment routes with their broader business objectives.
If a SSAS sounds appealing to you and your company, we would love to hear from you. We can help you free up your pension from the control of the insurance companies, allowing you, your fellow directors and ultimately your family to enjoy the freedom and benefits of pension self-administration.
