What is a SSAS?

A Small Self Administered Scheme (SSAS) is a company pension scheme, the members of which are usually directors and key employees of the sponsoring employer. A SSAS, whilst subject to the same rules relating to contributions and benefits as a normal company arrangement, has considerably greater flexibility and control over the scheme's investment policies and its underlying assets. In view of the wide investment powers, the Inland Revenue require a Pensioner Trustee to oversee the scheme to ensure that it continues to invest within Inland Revenue guidelines.

Other requirements of a SSAS are that only one scheme is permitted per employer, normally the scheme should have less than 12 members and there can be limits on the amount of investment.

A further advantage of a SSAS is that they permit pensions to be paid from the funds to a backstop age of 75 without the need to purchase an annuity. This permits continued control and flexibility of investments up to that date. If you would like further details of annuity deferral please contact us.

A pension is a long term investment. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.

The value of your investment and income from it is not guaranteed it can go down as well as up due to fluctuations in investment markets, and you may not get back the full amount invested.

Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor