SSAS Pensions Explained

SSAS Pensions Explained

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Our free pension HealthCheck will carefully assess whether your private pension is being consumed by excessive fees or hidden charges, which could be preventing you from retiring with extra funds.

Simply provide your pension pot size and age below, to calculate how much we could help your pension grow:



The higher the charges, the longer it may take you to retire and the less you could be retiring with.

How can pension works help with a SSAS

How does a SSAS work?

As trustees of the company’s pension scheme, business owners or directors make the key decisions of where the funds are invested. The major benefit of a SSAS is the flexibility on where the funds can be invested, this may include the business’ premises and other fixed assets that could grow in value.

For example, the pension scheme could purchase the business’ premises and lease the property back to the business which would then pay a rental income to the pension fund. Of course, this would be subject to terms and conditions, so it’s advisable to speak to an independent financial adviser.

All of the SSAS’ assets are held in the name of the trustees – there are no individual pension pots for the scheme members to draw from, but each member is recognised to hold a percentage portion of the assets of the scheme.

 

Peace of mind

We work with all major UK pension providers allowing us to find the pension that helps you meet your retirement goals, and ensures your retirement is in experienced hands.

What is the difference between a SSAS and a SIPP (Self-Invested Personal Pension)?

Both are self-managed and reliant on the investment decisions of the owner/trustees. The main differences are:

SSAS

    Greater flexibility with the investments
    Can lend funds back to the company
    Run by trustees – not an individual
    Usually only available to business directors or senior management

SIPP

Anyone can open a SIPP
Higher running costs than an SSAS
The SIPP provider is the trustee
Cannot lend money to your business from a SIPP

 

Who can invest in a Small Self-Administered Scheme?

Small Self-Administered pension Schemes are usually set-up to provide retirement benefits for small business owners, directors or senior members of staff. They can also be opened up to all employees and their family members even if they don’t directly work for the business but generally limited to a small number of members.